When news hits late in the afternoon, traders expect to see a gap open which is likely when Coastal Capital Acquisition Corp. (CCAJ) begins trading today. At 3:30PM yesterday, Earth Surfaces of America Inc., a wholly-owned subsidiary of the Company, applied to have its terrazzo concrete products shelved for sale at Lowe’s Co. (NYSE: LOW) Home Improvement stores. Although it’s simply an application, CCAJ stock had its highest volume trading session yesterday and could see both a gap open and a tripping of their 52 week high today.
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CCAJ Stock Chart
Market Cap: 11.40M
Close: 0.006, up 0.0008 (15.38%)
Volume: 30,704,211
Dollar Volume: $181,305
High: 0.007
Low: 0.045
Trades: 298
Average Trade Size: 103,034
Authorized: 2,350,000,000
Issued and Outstanding: 1,899,493,800
Float: 208,621,324
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The Naples, Florida based Earth Surfaces already has a number of its terrazzo concrete products for sale via another NYSE listed mega giant int he DIY/Home Improvement sector, The Home Depot Inc.’s (NYSE: HD) Home Depot Online. As such, people know the product line who shop online for tiles and could soon see the products via in-store sales with Home Depot.
Just last week, Earth Surfaces acquired a Breton 8-head sanding/polishing machine made by Breton S.p.A., an Italian company is an industry leader in stone and cement manufacturing machinery. They apparently needed this in order to hit their sales projections to keep up with the strong demand.
From the view of CCAJ stock, Wednesday saw the largest volume trading session ever and could see a jump in PPS considering its recent past performance. CCAJ ran from .0004 to as high as .015 from the start of the year to early May, an increase of 3,650%. A lot of buyers were in this from July to early September and own it well above its closing price from yesterday.
About CCAJ Stock
Coastal Capital Acquisition Corp.’s wholly owned subsidiary, Earth Surfaces of America, Inc., manufactures a full range of high-end eco-friendly terrazzo concrete architectural products for commercial and residential markets throughout the United States and the Caribbean.
Bottom Line: CCAJ is at the top of the list of penny stocks to watch at the open Thursday. Gap open or not, CCAJ stock is due to see some heavy trading volume on it and could spurt past the 7’s, 8’s and 9’s just as easily as it can try to grab hold of the 5’s and 4’s. Wednesday saw some serious trading volume which could just as easily been someone dumping shares into the news.
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