Nearly five months ago, we issued a penny stock alert on Global Gaming Network Inc. (GBGM) and watched it lead the OTC with intraday gains of 63%. Revisiting the sports focused media company, the gains from that alert for June 11 could easily be topped Monday since the plans the Company had five months ago are in full swing and the price of GBGM stock is less than one-sixtieth what it was when it outperformed Great Wall Builders Ltd. (GWBU) and Independence Energy (IDNG).
Looking forward to Monday, it appears like, although they may not lead the OTC in dollar volume, trading activity is going to be enormous on this now sub-penny stock. Have GBGM on your list of penny stocks for a Monday day-trade.
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GBGM Stock Chart
Market Cap: 3.09M
Friday Close: 0.0067, down -0.0003 (-4.29%)
Volume: 4,000
High: 0.008
Low: 0.0067
Trades: 2
Average Trade Size: 2,000
Authorized: 100,000,000,000
Issued and Outstanding: 461,206,012
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With the NFL season well on its way, NHL still up in the air, and predictions of a Heat v. Lakers NBA finals already being booked in Vegas, surely there is plenty to throw around which could include Global Gaming Network and their recently acquired AmpedFantasy website, an online sports business which allows users to legally wager on players that participate in domestic sporting events.
With ESPN and CBSSports clearly the leaders of fantasy sports, together with Yahoo, Global Gaming was able to book $343 in revenues for the three months ended June 30, 2012. Not a big bang for their huge trading session back on June 11 off our alert. However, the revenue number is ironically a good basis for which to trade GBGM stock. A $343 trade would acquire roughly 50,000 shares factoring in commissions. If the gains Monday can mirror those intraday gains from five months ago, 63% on 50,000 is enough to fill up the gas tank a couple times at least.
About GBGM Stock
Global Gaming Network is a developer, distributor and aggregator of related businesses operating in the mobile and online content and distribution industries. The company owns and operates SportsAlert.com the leading independent provider of sports data to mobile telephones in North America, one of the pioneers and a “first mover” in this field.
Click here to view the recent financial statements for GBGM.
Bottom Line: GBGM should be on the list of penny stocks to day trade, a couple hundred bucks at best, for Monday. Given that it’s kinda hard to imagine the price of GBGM stock being able to go much lower than 0.0067, it’s worth a window dresser for some green on the screen at worst —just don’t expect to see dollar volume of $8,441,361, share volume of 19,033,445, or even 3,292 trades like we witnessed on June 11th when they took out, among others, GWBU and IDNG.
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