Praying for a real Victory Mark and not another portfolio Skid Mark, penny stock traders sat tight on Monday holding their shares of Red Giant Entertainment, Inc. (REDG) while watching stocks like China YCT International Group, Inc (CYIG) shatter all-tme records for one-day gains. Shares of REDG stock have yet to make the impressive moves that a half million dollar campaign would boost, but the news after the closing bell should set the tone for the rest of the week: Expansion.
While CYIG stock broke out for gains of nearly 100,000% based on their previous close which was last year, traders would be more than happy if the comic book focused Company could bring them just 1/1,000th of that amount.
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REDG Stock Quote
Market Cap: 63.06M
Last: 0.145 ▼ -0.0095 (-6.15%)
Dollar Volume: $1,737,305
1st Resistance Point: 0.1573
2nd Resistance Point: 0.1697
1st Support Level: 0.1363
2nd Support Level: 0.1277
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Just after the closing bell, Red Giant entertainment announced that they had agreed to acquire, through a share exchange agreement with owner Chris Crosby who recently joined as a member of the Board of Directors of the Company, ComicGenesis. Described by some as “YouTube for comics”, Comic Genesis, considered to be the #1 user-generated comics site, will continue to be run by Chris and operate as a wholly owned subsidiary of REDG.
In just its 4th day of trading, 3rd day as the confirmed pump and dump of Victory Mark and their Preferred Penny Stocks, Select Penny Stocks and Penny Stock Heroes sites, REDG stock has seen little to no movement since day one which is not at all considered to be a bad thing. Shares of new “big money” awareness campaign are not supposed to have the volatility of one day ones since the concept is to strategically build bases slowly before blasting off or plunging to its demise.
Previous campaigns, PBCW, VUME, and MDMC, were less than victorious for traders who sat in for longer than a few hours to flip shares. However, the one true mark of excellence that traders are hoping for this time around is to see something similar to when PWEI went ballistic on the charts and allowed for a late summer profit in the high triple digits.
The deal with Comic Genesis, being that its likely a full share swap deal with no cash involved, should only help to boost the already growing revenues of Red Giant Entertainment. While the U.S. may look at comic books as a long gone hobby that only nerds and geeks still glorify, the Asian market for comic book readers is notorious for being the largest market in the universe.
With no 8-K yet filed to detail the share purchase agreement between Red Giant Entertainment and Comic Genesis, REDG stock is still an active participant on the penny stocks to watch list. As long as the affiliate group of Awesome Penny Stocks continues to push SWVI, REDG stock will be a shadow lurker, trickling itself down the list of actively traded penny stocks on the OTC as it awaits its moment to shine.
About REDG Stock
Red Giant Entertainment Inc. specializes in Intellectual Property development for multiple media platforms and transmedia propagation, the cornerstone of which is based around the more than three dozen online and print graphic novel properties in various stages of production as well as the cast of thousands of characters from those series.
Click here to view the SEC filings for REDG.
Click here to view the website for Red Giant Entertainment.
Last 5 Trading Sessions:
Bottom Line: REDG is in what we consider to be a holding pattern for the penny stock and worthy of a close watch come Tuesday. As long as the share price is supported well with a large enough wall by market makers, REDG stock could still produce hefty double-digit percentage gains from its current PPS. To expect anything greater than double-digits is like looking into the sky for the Man of Steel to come down and move your car for you from a tight parking spot so you can rush home to test out your new toilet paper.
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