The spark finally lit for the penny stock of Forum National Investments Ltd. (OTC: FMNL) on Tuesday when the shares jumped 37.84% to close at $1.02. Nearly $203 thousand in dollar volume traded on the Life Settlement Company when 228,651 were exchanged within 89 executed trades setting a new 52 week high for the penny stock. Trading on the OTC Bulletin Board since 1998 under the symbol FMNL, the Company recently appointed Frederick Schlosser as a Director whose history in Life Settlements shall prove valuable for Forum as they progress.
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FMNL Stock Chart
Market Cap: 33.17M
Day’s Range: 0.70 – 1.04
52wk Range: 0.11 – 1.04
Avg Vol (3m): 52,936
A life settlement is a financial transaction in which a Term Life Insurance policy owner who either does not need or want their life insurance policy in turn selling the policy to a third party for more than the cash value offered by the life insurance company. The purchaser becomes the new beneficiary of the policy at maturation and is responsible for all subsequent premium payments.
Bottom Line: FMNL will likely lead all the $1 penny stocks in gains this summer since the hard mailers are out and the subject matter is both easy to understand and rewarding to the policy holder. We knew something was cooking with FMNL when we issued the alert to watch the stock on May 23rd. There has been a significant pickup in volume over the past few weeks and the stock looks ready to take flight.
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