Standing out above the crowd today on the OTCBB, the penny stock of Nevada Gold Corp. (NVGC) saw a huge volume surge, the largest since it began trading in early September. Pre-market trading led some speculators to get “gold fever” and grab positions in NVGC stock despite the fact that not a peep has come from the North Eastern Nevada focused mining start-up. Having doubled in price since the loading began in 2 months ago, it’s going to take a lot more than just a SmallCapVoice to push this one past the .30 level.
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NVGC Stock Quote
Market Cap: 12.64M
Last: 0.2405 ▲ +0.0405 (20.25%)
Volume: 854,833
Dollar Volume: $202,683
Open: 0.25
High: 0.25
Low: 0.21
Trades: 161
Authorized: 125,000,000
Issued and Outstanding: 53,550,000
14-Day Rel Strength: 65.61%
1st Resistance Point: 0.257
1st Support Level: 0.217
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Beyond having not generated any revenues, Nevada Gold Corp. had enough money to get a couple of Happy Meals and a gallon of gas to get through the drive-thru as of August 31, 2013. With $14 worth of total assets, CEO, CFO and President of the Company, Merrill W. Moses, parted the Red Sea of impossibilities just a week later by agreeing to acquire up to a 75% interest in a former producing high grade silver, lead, gold mine which would have required that $5,000 be paid on September 30th.
Two weeks later, on September 17th, Nevada Gold Corp announced that SmallCapVoice.com, Inc. will be handling the day to day responsibilities of investor and media relations for NVGC. The group who handles more than a handful of range-bound tickers on the OTC has yet to make any investor alerts about how great the potential NVGC stock will have.
When we dug into NVGC back in August, the “$10” it cost to take over the Company was a clear sign that a promotion was due to come in the short-term. Despite the volume surge in today’s trading session, the chart clearly shows that the money to be made on NVGC stock was by grabbing the 0.10 – 0.15 shares and exiting into a perfect storm like today.
About NVGC Stock
Nevada Gold Corp. is an exploration stage company with no revenues and a limited operating history.
Click here to view the SEC filings for NVGC.
Click here to view the website for Nevada Gold.
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Change | Volume |
| 11/06/13 | 0.2500 | 0.2500 | 0.2100 | 0.2360 | +0.0360 | +18.00% | 854,433 |
| 11/05/13 | 0.1700 | 0.2000 | 0.1650 | 0.2000 | +0.0400 | +25.00% | 237,200 |
| 11/04/13 | 0.1650 | 0.1650 | 0.1600 | 0.1600 | -0.0100 | -5.88% | 45,000 |
| 11/01/13 | 0.1700 | 0.1700 | 0.1700 | 0.1700 | +0.0145 | +9.32% | 22,500 |
| 10/31/13 | 0.1555 | 0.1555 | 0.1555 | 0.1555 | -0.0135 | -7.99% | 1,300 |
Bottom Line:
NVGC has one thing going for it, it’s an SEC filer. As for if it’s a good penny stock to watch, sure it’s good to watch the trades go through, but getting in this high is fool’s gold.
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