With all the hype and desperation in the last round of emails sent out about “have patience“, “last chance to buy at this price” and “market is closing soon, did you buy yet?”, you would think this penny stock promotion was a conversation between a husband and wife about buying milk. Nevertheless, Sunpeaks Ventures (OTCBB: SNPK.OB) finally woke up around 2:00pm and traded half the day’s shares in the last two hours to close up 14.26% at $0.765.
The hottest penny stock of all the OTC stocks, in terms of campaigning, has built up a Market Capitalization of $321,683,074 for its 420,500,750 Shares Outstanding and 145,500,750 Share Float.
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SNPK began its trading like gangbusters making everyone believe the stock wouldn’t slow down. Well, comparing volume levels to the first two days, it seemed clear that SNPK had all but gone to sleep until the last trading session.
SNPK Stock Volume History:
Prior to 3/8: 0
3/8: 159,873,632
3/9: 98,710,136
3/12: 29,514,584
3/13: 19,054,952
3/14: 13,948,535
3/15: 7,019,542
3/16: 33,363,552
3/19: 37,309,480
3/20: 20,457,384
3/21: 11,506,959
3/22: 9,168,799
3/23: 7,725,513
3/26: 8,810,678
3/27: 3,464,363
3/28: 10,225,736
At 12:59pm during yesterday’s trading session, a trade for 200 shares of SNPK stock was executed at $0.69. One minute later, a trade for 8,220 shares at the same price pushed the day’s volume above 3 million.
At 2:09pm, a trade for 337,561 shares of SNPK was executed pushing the stock to $0.70 which pumped the day’s total volume above 4 million. From that point until the close of trading, trades began to look uncommonly familiar to the same size trades executed on March 8th.
Looking at it a bit deeper; 470,153,845 shares have traded on SNPK in 15 trading sessions, 31,353,589.67 shares traded daily on average.
Using the 10-Day Moving Average of $0.6208, that’s $291,871,506.97 traded on a penny stock that reported $9,916 in Cash in its most recent 10Q, Zero revenue and the head coach from the worst team in the NBA as its spokesperson for the SNPK wholly owned subsidiary’s product being marketed in 1,2,3 mainly low-traffic, Hispanic pharmacies in Western Dade and Broward County, Florida.
Bottom Line:I wagered with a friend on the day that SNPK came out and told him that he would make more money on STVF than he would on SNPK simply due to the nature NSRS was left in and that the SNPK inauguration was too aggressive. He put $20,000 into each.
Well, I will be collecting my winnings as a proud fan in attendance to the 2012 Miami Marlins Home Opener on April 4th in Home Plate Box Section 13 ala the $62,000 he made on my STVF stock tip. Go Marlins!
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