The top 10 OTC stocks traded was once again led by the penny stock of Sunpeaks Ventures (SNPK) which had nearly $45 million worth traded yesterday. Other notable penny stocks in the top 10 were shares of Sefe, Stevia First (STVF), Frogads (FROG). The losers were led by North Springs Resources (NSRS), AISystems (ASYI) and Cannabis Science (CBIS).
Luxeyard Inc. (PinkSheets: LUXR), a members-only flash sale site for luxury home furnishings, decor and fashion, joined the OTC top 10 party as its penny stock reached a new 52 week high of $0.99 during the trading session. LUXR announced a strategic alliance with buyinvite, one of Australia’s premier members-only private sale sites prior to the market open and filing their 10-K.
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Top 10 Traded Penny Stocks To Watch
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Luxeyard Inc. began their operations as of the launch of their website, www.Luxeyard.com in December, 2011. On March 27, 2012, LUXR launched LuxeStyle apparel line.
LUXR Stock Snap Shot:
Market Cap: 61.39M
52 Week High
52 Week Low
Avg Vol (3 month): 150,522
Avg Vol (10 day): 200,057
Shares Outstanding: 63.29M
In the fiscal year ended December 31, 2011, LUXR had revenues of $2,038 and a net loss was $1,038,447. As of December 31, 2011, the company had total current assets of $326,842 and total current liabilities of $390,091. Not bad for a start-up with only one-month of time to generate revenues since the launch of their retail website.
Luxeyard Inc. is a member-based online marketplace for luxury home and other consumer related products whereby the company is sourcing products from merchants and then offering those products at deep discounts to retail prices to the members via a “flash sale” or “daily deal.” Other lines of business are scheduled to launch throughout 2012.
To view the SEC filings for LUXR, click here.
Bottom Line: The luxury merchandise industry is notorious for excess inventory and high margins and often suffers from a need to relinquish inventory at lower prices but without sacrificing brand image. Luxeyard may be the image better suited rather than Ebay or Frogads.
Add LUXR to your list of penny stocks to watch and see how it trades in the opening minutes in the next trading session. LUXR popped its head up on the screen today after being an unknown and could be a good long stock. The next 10-q filing will shed some light on that.Share