For nearly the first hour of trading Monday, it appeared as if the penny stock of Pan Global Corp. (PGLO) was going to use Friday’s momentum to exceed its high of 0.96. Knowing from experience that pumped tickers like PGLO stock rarely ever bounce higher than their previous high, especially during the fall months, the morning surge fizzled down as quickly as it fired up. After almost a month in the spotlight, surviving a halt is almost as superb as having tripled twice during that time span.
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PGLO Stock Quote
Market Cap: 304.95M
Last: 0.67 ▲ +0.10 (+17.54%)
Dollar Volume: $4,593,801
Issued and Outstanding: 455,155,000
14-Day Rel Strength: 58.24%
1st Resistance Point: 0.74
1st Support Level: 0.60
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With the $1 million maximum financial assistance of Anatom Associates, S.A., Pan Global Corp. detailed their financing deal with Regency Yamuna Energy Limited to complete the construction of their 5.7 MW small-hydro project in northern India. Details though of the $11,001,639 value project have not indicated whether the “complete the construction f” is the first cinder block to be cemented, the 50,000th, or the final ones, leaving the imagination to ponder how soon the plant can start generating revenues for the start-up company.
The pre-closing conditions, customary representations and warranties, post-closing covenants and mutual indemnification obligations of the deal between Regency Yamuna Energy Limited, Pan Global Corp. and Anatom Associates, S.A. leave open so many escape clauses for it all to be a big PR fluff that basing an investment decision, especially after a huge dumpage occurred 2 weeks ago, makes PGLO stock this high a big risk.
What really matters for most traders is that, besides the obvious three, Fannie Mae (FNMA), Freddie Mac (FMCC) and American Airlines’ AMR Corp. (AAMRQ), PGLO stock was the #1 traded penny stock on the OTC once again. With that type of momentum and exposure, it is sure to keep in the spotlight as Tuesday’s session prepares to begin. With 0.74 as yesterday’s HOD, this is likely to be the last time PGLO sees anything north of 0.70, especially when the sellers know the tick-tock of the clock is much louder nowadays, especially after Sovereign Lithium, Inc. (SLCO) had it’s electricity turned off on Friday.
About PGLO Stock
Pan Global Corp., after acquiring Pan Asia Infratech Corp., is a development stage company determined to develop projects in renewable energy and energy efficiency technology that comprise innovative solutions for basic infrastructure.
Last 5 Trading Sessions:
Two runs worth nearly 200% each time in the span of less than a month would be a major reason why PGLO was the top penny stock traded Monday. Experience says waiting for a smaller bounce on PGLO stock wen the next crash comes is likely to be the lesser of to evils when it comes to making some money on it for those not already in. The question is how low will the next dump take the share price to?
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