Shares of Scorpex Inc. (Pinksheets: SPRX) outperformed the OTC penny stocks on our screens gaining 50%, up .04, to close at $0.12 in the last trading session. That’s about the best you can say about the pinksheets listed penny stock that is focused on the development and disposal of industrial, hazardous, and toxic waste services in Mexico. If that isn’t an oxymoron, I don’t know what is.
Scorpex announced in the first week of April that it was still waiting for the approval of city permits from the City of Ensenada, Mexico, that the 2011 audit would be completed during April, and that groundbreaking for their first facility was expected to take place during Q3 2012. A lot of hopes pending on SRPX and their return to the $1 range while they anticipating the permits for their dump. Ironic.
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SRPX Stock Snap Shot:
Market Value: $24,714,543
a/o Apr 20, 2012
Shares Outstanding: 205,954,524
a/o Dec 31, 2011
a/o Nov 18, 2011
52 Week High
52 Week Low
5 Day Look Back
Pct Change: 64.38%
Moving Avg: 0.08
Avg Volume: 174,171
10 Day Look Back
Pct Change: 0.50%
Moving Avg: 0.0828
Avg Volume: 180,132
Bottom Line: Volume was definitely higher in Friday’s sessions compared to the 5 and 10 day average. Does that make SRPX one of the best penny stocks? Absolutely not. Even a broken clock is right twice a day and every now and then the sun will shine on a dog’s arse.
SRPX is not worth adding to any list of penny stocks. Times will come when there are momentum plays which are great for a day trade, but there is no reason to add watch them closely. Honestly, we just had to get a post that we could write something good about them to be found in search queries.