We touched base and covered a few companies last week. A couple sub-pennies had a beautiful yet short lived run, while others have pulled back and quieted down . Regardless, Friday was “flat” overall and investors could not seem to target that “new one” to throw their investment money at.
I can’t speak for the pinksheets market, but according to OTCMarkets.com‘s ADVANCERS, nothing on the list traded more than 30 trades or saw an increase of 33% or more that had at least $8000 worth of dollar volume. To be honest, things were pretty quiet, almost boring. With that said, it can easily be blamed on the summer slow down or the holiday and vacationing.
Friday we had tweeted we liked $ELTP at the $0.11 level as it had looked to be bouncing back from an inter-day low of $0.096, but could not regain its legs. Elite Pharmaceuticals (company developing drugs to deter the addictive side of opiate pain meds) was at $0.19, closed at $01099 (-42.44% on 14,237,847 volume) as shareholders did not welcome the unsatisfactory mid-day press release.
The sub pennies, $OTTV and $IMTV had interesting weeks. The momentum behind $OTTV carried the share price to a high of $0.009 just missing many shareholder’s goal of 1 cent. $OTTV closed Friday at $0.0042 down 20.8%, while $IMTV fell hard again for a 2nd straight day, as it closed at $0.001 down 37.5%. Wednesday night we had alerted our readers that the company had debt issues according to recent financial statements. Many flip traders were searching for the next $OTTV as profit taking fueled $IMTV’s jump of 285% on Wednesday. The company’s share price has nearly fallen 67% since Thursday’s open of around $0.003.
In other stocks, we spoke of $OXIS and how we believed in their new CEO (alerted at .018), they closed at $0.0191 Friday. $TRTC saw solid gains as their Nevada cannabis stores were having record sales. $TMPS has slowly settled down from June’s $1.07 high, as shares closed at $0.38 on Friday. On The Move $OMVS closed at $0.06 as it looks to break out for a 3rd time in as many months as the closing date of RAD approaches. The merger/acquisition is set to be completed by August 11,2017.
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