If you thought that Monday’s trading session would not be worth being involved in after the long three day weekend, you couldn’t have been more wrong. Traders who scour penny stocks for SEC filings scored a big win after Omega Commercial Finance Corp. (OCFN) filed an 8K on month old news about how, on June 10, 2015, the Company entered into a definitive share exchange agreement merger agreement with Branca Ribeiro Representacoes Ltd. (“BRR”) to acquire 20% of the Company in consideration for 10-million shares of Series NYSE Convertible Preferred Shares at a Par Value of $7.86. That would value the deal at $78.6 million which forced OCFN stock to run like it stole something.
BRR is a forest land and timber holding company that is among the largest privately held forest land-banks and timber/wood producers in all of Brazil with 345,453 acres of land valued at $393-million and a 2014 year-ending profit margin of 20% from EBITDA of $23-million. The history of OCFN shares getting dumped on to unfamiliar traders leaves the door wide open for those who held overnight to see if their trees make any sounds when they collapse within their trading portfolios on Tuesday.
On a brighter side, Axiom Corp. (AXMM) took the trading session by the horns by bouncing off its 52 week low to set a record on volume and allow for traders to recoup some of the losses they recorded when AXMM shares were pumped a few weeks ago. The credit for the massiveness can be attributed to a landing page being visited which is allowing for the 3 year ago investment of $39,000 to move a large amount of the 26 million shares of AXMM stock they got for 0.0015 per share.
While it was just these two that caught the attention of traders, the two ended the session among the top 10 OTC tickers traded:
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While most traders are spending an hour at most to trade during these summer sessions, those who have hung in for the grind are enjoying the chance to scalp 5-10% here and there on some of the big board listed penny stocks. From what our scanners picked up, here’s a few you can keep an eye on when the opening bell rings:
If none of those match your fancy, have a look at CORX, GEQU, MHCC, ONCI, PIHN and VOIS. These penny stocks should a bit of hair on their chest yesterday and might be looking to flex a muscle as the week continues.
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