Shares of pink sheets listed sub penny stock Viper Networks Inc. (OTC PINK: VPER.PK) surged again yesterday gaining 1,300% since mid-November, 2011. The penny stock of VPER ended the day up 27.27% at $0.0056.
VPER, a provider of voice over Internet protocol (VoIP) communications products and services, traded 119,150,568 shares, nearly 3X the 10-Day Average Volume; 31,020,702.
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Viper Networks shares have been surging since the company announced its expectations to conclude preliminary due diligence on a U.S.-based, profitable LED company that it has been in acquisition talks by the end of March.
VPER currently has a Market Capitalization of $5.93 Million with 1.06 Billion Shares Outstanding.
VPER Stock currently is showing an RSI of 72.74 which could indicate a pull back since it is reaching a level considered to be overbought. VPER did surge past the “overbought” indicator line in February when it surged to $0.0084.
Both MACD and MFI are are showing extremely bullish signs on the penny stock both of which have surpassed their current levels during the February run on the stock.
VPER has been issued a “Yield” sign by OTCMarkets which was designed for companies with financial reporting problems, economic distress, or in bankruptcy to make the limited information they have publicly available. The category also includes companies that may not be troubled, but are unwilling to meet OTC Markets Group’s Guidelines for Providing Adequate Current Information.
VPER will release a closing date projection for the acquisition upon completion of the due diligence.