Penny Stock Gamblers; 3 Under $3 For Friday
I’m mostly a small cap to mid cap swing trader but it’s always fun to take a look at what’s hot in the nano cap space. My existing clients know the dangers of messing around with penny stocks but if you are new, please understand these are not stocks to marry i.e. they have significant problems. Having said that, they are liquid right now and capable of producing 20-50% returns in a very short time if you catch the right wave. Here’s what I’m looking at and if you’d like to know when I buy, GO PREMIUM today! Trades like these would go under Bond Blow Ups, learn more here.
Plug Power (NASDAQ:PLUG) is an alternative energy technology provider, engages in the design, development, commercialization, and manufacture of fuel cell systems for the industrial off-road markets worldwide. A recent stock offering at $.15 to raise $2.4m pounded PLUG dropping the stock from $.41 – $.12 or 71%. After a 30% bounce on Thursday, if shares hold $.16 a move into the low $.20′s from here isn’t unreasonable, despite the overhead pressure from the offering.
Central European Distribution (NASDAQ:CEDC) produces, imports, and sells alcoholic beverages in Poland, Hungary, and the Russian Federation. You’ll need some liquid courage if you’re going to jump in this stock, so do a shot of vodka before you get in and have the bottle on stand by because this is pure speculation. Earlier this week shares plunged 55% as bankruptcy fears loom. The company has proposed swapping bonds for equity to cut its debt by more than $750 million but few on Wall Street have faith in the Polish vodka distiller. If $.72 opens and holds Friday, there’s squeeze potential given many shorts might like to cash in on their winning bet under a buck.
Medical Marijuana (OTCBB:MJNA) operates in the medical marijuana and industrial hemp markets. A known pump and dump MJNA has become extremely popular with the penny stock community in recent months as more and more states look to legalize marijuana. I’m not one to trade OTCBB much and especially known pumpers but the bull flag forming this week leads me to believe it might keeps shorts on the ropes heading into the weekend. Watch $.35 because if that falls there’s a good chance it’ll retest the 52-week highs. Careful on this one, it can crash fast and without notice.
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