Traders Bet On Elray Resources (ELRA) Stock And Win Again

ELRA StockEver since the buzz wore off from when Elray Resources, Inc. (ELRA) announced that they had acquired in late September, investing in the penny stock had been a losing bet – until today. Shares of ELRA stock exploded off their 0.0009 open this morning and, as of mid afternoon, are showing no signs of weakening despite more than the stated number of issued and outstanding shares having already been flipped with 2 more hours of trading still to come. With little to know reason as to why the record volume is pushing the gaming companies share price up and causing it to be the second most traded OTC ticker, the resurgence of volume all across the OTC is showing why November will be a time for giving thanks.

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ELRA Stock Quote

ELRA Stock Chart

Back in late September, Elray Resources, operating as Elray Gaming, said that they acquired, a reseller of the Oz Lotteries System which is the exclusive online agent for the government licensed NSW Lotteries, run by Tatts Group Limited in Australia. Knowing how Aussies have long been tagged as being the biggest gamblers in the world, ELRA stock had already begun to run prior to the news getting released to the public.

The run, back in late September, was most likely due to one or more of the toxic debt financiers on the books of Elray Resources helping to drive up the share price prior to dumping on investors like a flock of seagulls hovering over a freshly washed convertible. With names like JSJ Investments, Inc., Asher Enterprises, Inc., KBM Worldwide, Inc., KBM Worldwide, Inc., GEL Properties, LLC, LG Capital Funding, LLC (who recently field their 13G) and ASC Recap all being listed as debt holders to the non net income producing gamers, its no wonder why ELRA stock rose from the ashes, only to be lowered back down over the course of a month.

Although no news came out today about Elray Resources, not even a peep the whole month, shares of ELRA stock have been on fire and in need of some real reason to keep it up above the trip-zero level with just 3 more trading sessions left in the month. Perhaps a new announcement which leads investors to think the company can generate more than 10% in revenues compared to how much it costs to run the Company might make holding shares of ELRA after the closing bell a gamble worth risking any of the over $700,000 already traded today.

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About ELRA Stock

Elray Resources, Inc. is a development stage company in the process of developing an online casino and related technologies to provide gaming to customers where such activity is legal.

Click here to view the SEC filings for ELRA.
Click here to view the website for Elray Gaming.

Authorized: 890,000,000
Issued and Outstanding: 363,759,211

Last 5 Trading Sessions:

Date Open High Low Last Change % Chg Volume
10/28/14 0.0009 0.0033 0.0009 0.0033 +0.0025 +312.50% 345,909,656
10/27/14 0.0010 0.0010 0.0008 0.0008 -0.0002 -20.00% 26,181,100
10/24/14 0.0009 0.0010 0.0008 0.0010 +0.0001 +11.11% 28,731,100
10/23/14 0.0007 0.0009 0.0007 0.0009 +0.0001 +12.50% 34,616,699
10/22/14 0.0009 0.0009 0.0007 0.0008 -0.0001 -11.11% 25,728,600


Bottom Line:

With ELRA really stealing the show today as one of the best performing penny stocks in the top 10 traded, others like VOIL, SOPW and HEMP are also seeing volume levels really sat to pick up compared to just a couple of sessions ago. It’s hard to gamble on ELRA stock when you look just how pitiful it’s been since the start of the year, but those who did are banking big for their foresight and might want to consider lowering their exposure when they stat to look at hindsight.

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