With Nasdaq penny stocks doing so well lately, it’s only natural that the bears on Wall Street are begging for a big pullback. But so far, at least, that hasn’t happened as evidenced by the hottest penny stocks in the last trading session; HEAT, YONG, JOEZ, MOTR, PXLW and GNOM.
The bull market in penny stocks will likely continue for the rest of the year regardless of the extravagant gains those investing in penny stocks have already booked in the first quarter. Here is a list of the Top 6 Nasdaq listed penny stocks worth noting from the last trading session. (Click ticker symbol for full details)
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| HEAT | SmartHeat Inc. | $5.25 | +2.51 (91.61%) |
The share price of SmartHeat Inc. (HEAT) skyrocketed after receiving positive comments from New Star Analysts Rankings. Shares in the hottest penny stock on the three major exchanges, HEAT, rose as high as $6.00 before closing up $2.51, 91.61% at $5.25. Although a great day int he stock market, the penny stock of HEAT is only up 64.06% year to date.
The Chinese maker of plate heat exchangers (PHE), SmartHeat’s products are used in various applications that include energy conversion for heating, ventilation, and air conditioning; and industrial use in petroleum refining, petrochemicals, metallurgy, food and beverage, and chemical processing.
| YONG | Yongye International Inc. | $3.52 | +0.41 (13.18%) |
Share price in Yongye International Inc. (YONG) bounced nicely on the news announcement that the Company collected $140 million of $154 million accounts receivable during Q1, 2012. Shares in the penny stock of YONG gained 41 cents, 13.18%, to close at $3.52 on volume of just under 3 million shares. The volume was more than 6 times the year to date volume and the gain in the stock price of YONG saved it from reaching its 52 Week Low (5/19/2011); 3.01.
Yongye International Inc. is a leading developer, manufacturer, and distributor of crop nutrient products in the People’s Republic of China. YONG‘s principal product is a liquid crop nutrient, from which the Company derived substantially all of the sales in 2011.
| JOEZ | Joe’s Jeans Inc. | $1.38 | +0.16 (13.11%) |
The penny stock of Joe’s Jeans Inc. (JOEZ) received news The Nasdaq Stock Market closing the matter on JOEZ stock since it is now in compliance with Nasdaq’s $1.00 minimum bid price requirement. The share price of the penny stock JOEZ gained 16 cents, 13.11%, to close at $1.38 on volume of just over 2 million shares. JOEZ stock price rose enough to create a new benchmark 52 Week High of $1.40 during the trading session.
Joe’s Jeans Inc. is a designer, producer and seller of apparel and apparel-related products to both retail and premium markets under the Joe’s® brand and related trademarks.
| MOTR | Motricity Inc. | $1.33 | +0.15 (12.71%) |
From a technical point of view, shares in Motricity Inc. (MOTR) surged back above its 50-day moving average of $1.21 on volume of 3.82 million.. The move on MOTR is quickly pushing the Nasdaq penny stock within arm’s reach of triggering a near-term breakout trade. MOTR closed up 15 cents, 12.71%, at $1.33. If MOTR can manage to maintain this level of high-volume and close above $1.33, traders can then look for the penny stock to make a run at its next significant overheard resistance levels which are at $1.65 to $1.85 in the near future.
Motricity Inc. is a provider of mobile data solutions to mobile operators, consumer brands and enterprises, and advertising agencies.
| PXLW | Pixelworks Inc. | $2.52 | +0.28 (12.50%) |
Pixelworks Inc. (PXLW) announced that the company licensed certain of its existing technologies to a third party. Shares in PXLW jumped on the news gaining 28 cents, 12.50% to close at $2.52 based on estimates that the license will result in revenue of approximately $4 million to $5 million during 2012. PXLW made the list after recording volume of 609,109 since year to date average volume is only 45,306.
Pixelworks Inc. designs, develops, and markets video and pixel processing semiconductors and software for digital video applications. The company sells its products through its direct sales force, distributors, and manufacturers representatives in Japan, Taiwan, China, Korea, the United States, Europe, and southeast Asia.
| GNOM | Complete Genomics Inc. | $3.36 | +0.35 (11.63%) |
After announcing that they have begun accepting DNA samples derived from human saliva last week, shares in Complete Genomics Inc. (GNOM) traded as high as $3.46 before closing at $3.36, up 11.63%, on volume of 3.3 million. From a technical point of view, GNOM has begun to flirt with passing its 50-day moving average of $3.36. If it should pass and close above $3.36, the penny stock may have triggered a breakout trade since GNOM has already surpassed some near-term overheard resistance at $2.99 to $3.02.
Complete Genomics Inc. is a life sciences company that develops and commercializes a DNA sequencing platform for human genome sequencing and analysis.
Bottom Line: Over the past few months, the pessimistic mood investors had has transitioned to optimism. Normally, optimistic sentiment readings presage a market correction. However, there are so many traders seeking an opportunity to increase their risk exposure to penny stocks that even a minor correction is stopped short due to a flurry of buying.
Expect to see this trend could continue for a while.
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