Since our May 23rd penny stock alert on Forum National Investments Ltd. (OTC: FMNL), the shares have gained $1.10, 117%, and they’re just getting started. FMNL stock price reached a new high Tuesday of $2.08 before closing up another 0.22, 12.09%, at $2.04. In Tuesday’s trading session, dollar volume also reached a new high of $748,252. Since May 23rd, Awesome Penny Stock’s GWBU has gained a penny. Who’s Awesome?
Forum signed an LOI yesterday with Aliya LifeSpan LLC, the first step of their planned merger. (see here)
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FMNL Stock Chart
Market Cap: 33.17M
Shares Outstanding: 32.52M
5 Day Pct Change: 72.88%
5 Day Moving Avg: 1.68
5 Day Avg Volume: 297,197
10 Day Pct Change: 100%
10 Day Moving Avg: 1.36
10 Day Avg Volume: 246,770
The LOI signed by both FMNL and ALIYA encompasses the spirit and framework of a merger. The merger will obviously be subject to the approval of FMNL shareholders which they will have a chance to vote on in early August at the company’s Annual General Meeting. A final agreement is expected in the next few weeks. The approval should be easy to pass.
About Aliya LifeSpan™, LLC
Aliya LifeSpan™, LLC is a broad based financial asset management firm who specializes in Life Settlements and Life Settlement structured financial products. Aliya LifesSpan™ specializes in utilizing senior life insurance settlement policies, or more commonly known as “Life Settlements”, as the asset basis for a variety of investment strategies, which we believe avoids many of the pitfalls of traditional investment classes. Life Settlements are an anomaly in today’s investment environment. Life Settlements are not tied to any traded market such as stocks, bonds, foreign currency, or any political, economic or real estate calamity.
Bottom Line: FMNL stock, like MYOS, IDNG and AGRT, is one of the hot penny stocks in the market right now and needs attention. Yes, day trade situations will pop up each trading session, but, looking at how IDNG has performed since the beginning of May, imagine where FMNL will be in mid-July.
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