Ron Insana Here's a statistic from a colleague of mine who manages a large small and mid-cap stock portfolio: In the first 7 days of June, stocks under $1 rose 60% on average!!!!
Naturally the biggest and earliest run-ups in a bull market are going to be viable penny stocks. Their prices move a lot easier. When the market is headed for the clouds the little fellas will do a lot more moving up and up instead of up and down.
Yep there you have it. Today's winner. I think i know how this is happening. There has to be a group of people with many multiple accounts finding a particular stock each day to move. One with very low float, not much attention where volume has been next to nothing. They tout the stock to each other and set off the next day just buying that particular stock where the stock then gets on everyone's radar and then they sell while others are buying up the hype.
“There is nothing new on Wall Street. Whatever happens in the stock market today has happened before and will happen again.” -Jessie Livermore