WEEKLY PENNY STOCK MARKET RECAP $FSAM $SPEX $APDN $MBRX $DCTH $AVEO
WEEKLY PENNY STOCKS RECAP $FSAM $SPEX $APDN $MBRX $HTBX $DCTH $AVEO
New week is coming. But what happened this week?
Stock indices: The main thing about this week is the concern how main SPY and QQQ indices closed this week. They closed red and what worries me more that QQQ (NASDAQ index ETF) closed in red producing bearish engulfing pattern which is very bearish sign. I am expecting for market to lose upside steam and it can start moving lower. Bigger market correction is very possible.
This week’s volatile Penny Stocks:
$FSAM – news about possible buyout hit the market. The stock rose significantly. But it is very typical micro-cap stock move. The news are not factual but only prediction of a possible acquisition. The man behind the news is Howard Marks who is preparing to buy Fifth Street Asset Management.
$SPEX – skyrocketed producing insane gains, but Friday it closed in red. Probably it will not move higher again next week so be noted. Stock price moved after the news: Spherix Inc. Announces Definitive Terms Reached to Acquire Controlling Interest in Hoth Therapeutics, a Biopharmaceutical Company Developing its.
BioLexa Platform to Treat Skin Illness Such as Eczema.
$APDN – the move was more contained when comparing to other volatile penny stocks but as well significant. There were two positive articles on June 27th, but I want to draw attention to news on June 28th – Applied DNA Sciences Raises .8 Million in Private Placement which basically translates to sale of shares meaning possible dilution effect. Be aware!
$MBRX – hyped stock. After releasing news about significant research discovery of a metabolic inhibitor with the potential to treat pancreatic cancer on June 22nd the news of the same matter continued into this week basically producing hype around the same information. Of course as in typical manner stock price crashed.
$DCTH – the insane last week mover is now gasping and I do believe the insane speculative frenzy is over.
$AVEO – this biotech after closing above 1$ dollar last week made higher moves. Possible resistance is going to be tested again and correction is very likely. Will see this upcoming week what this stock will do next.