Known for decades of how he can take an American-made muscle car and inject some high-octane steroids and wicked new body designs, Steve Saleen’s recent recapture of his old Company, Saleen Automotive, Inc. (SLNN), has yet to really fuel penny stock traders since its initial run. Running to $1.15 shorty after we initiated coverage on SLNN stock, trading volume has been all but nothing. After today’s announcement that they are currently in development to produce an electric vehicle for eventual distribution and sale, dreams of getting into a possible Tesla Motors, Inc. (TSLA) for fractions of a $1 could begin to create a cannonball type run.
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SLNN Stock Quote
Market Cap: 33.72M
Last: 0.35 ▲ +0.02 (+6.06%)
Volume: 600
Open: 0.37
High: 0.37
Low: 0.35
Authorized: 100,000,000
Issued and Outstanding: 96,333,332
14-Day Rel Strength: 38.26%
1st Resistance Point: 0.3633
1st Support Level: 0.3433
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Steve Saleen, CEO and founder of Saleen Automotive, Inc. stated in today’s announcement “We intend to enter this market with an offering that is truly innovative and offers the styling and craftsmanship associated with the Saleen Automotive brand. The rapid pace of advancements in electric vehicle technology makes our entry into this market sector timely and should expedite completion of this project.”
The statement couldn’t be more true as traders and investors watched shares of Tesla Motors, Inc. (TSLA) skyrocket this year from the mid $30’s at the start of the year to as high as $194 in early October after reporting their first ever profitable quarter. Look at the penny shares of Car Charging Group, Inc. (CCGI), a group that provides electric charging services for the electric vehicle (EV) automobile market primarily in North America. They boomed from 0.71 in early October to $194 just a couple of weeks ago.
The news from Saleen Automotive comes just 2 trading sessions after the Company released their investor presentation (see here). Known for bowing the doors off of the competition, Steve added in today’s release “I’m not prepared to give all the details of our electric vehicle project yet but I can tell you that it is unlike anything currently in the marketplace. Throw out your pre-conceived notions and expectations. This vehicle will be revolutionary in its aesthetics and mechanics. Stay tuned.”
This simply tells us it’s time to start acquiring SLNN shares before the crowds find out about this.
About SLNN Stock
Saleen Automotive, Inc. is a development stage, publicly traded, American specialty manufacturer of high performance vehicles, technical performance parts, lifestyle accessories and apparel.
Click here to view the SEC filings for SLNN.
Click here to view the website for Saleen Automotive.
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Change | Volume |
| 12/02/13 | 0.3700 | 0.3700 | 0.3500 | 0.3500 | +0.0200 | +6.06% | 600 |
| 11/29/13 | 0.3300 | 0.3800 | 0.3300 | 0.3300 | -0.0650 | -16.46% | 1,200 |
| 11/27/13 | 0.3950 | 0.3950 | 0.3950 | 0.3950 | unch | unch | 200 |
| 11/26/13 | 0.3950 | 0.3950 | 0.3950 | 0.3950 | -0.0050 | -1.25% | 700 |
| 11/25/13 | 0.4000 | 0.4000 | 0.4000 | 0.4000 | unch | unch | 1,100 |
Bottom Line:
We love real penny stocks like SLNN which represent a proven track record for bringing their products to the marketplace. Almost fully diluted in the respect whereby virtually all of the authorized shares are already issued and outstanding, SLNN stock this low doesn’t look like it’s going to get much cheaper. After having a look through their investor presentation, we can’t seem to think volumes going to stay low on it either.
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