Well, if you are a penny stock trader, then you must be aware of yesterday’s mystery of VISION PLASMA SYSTEMS INC (PINK:VLNX). On Thursday, VLNX popped up as much as 270% and at the time of closing the stock tripled in a single day and that too on massive volume 308 million shares.
We all know, penny stocks usually are traded in big quantities, but VLNX gained attention from penny traders without any news and yesterday’s move was skeptical .
So here we go, this morning the stock is down 66%, losing its entire gain in the prior session. What if any trader bought the stock in yesterday’s session? He must have bought above $0.14 or may be $0.30. $0.14 was its intraday low and the stock mostly traded above $0.30 throughout the session. Moreover, yesterday, the stock made a new high of $0.39.
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However, yesterday after the market hours, the company announced that an agreement from Cell Runner Inc. of Japan has been signed for the purchase of two (2) Arc Master I Units. These initial units will be used to remediate over 5,000 hazmat suits used daily by cleanup crews working in the Fukushima Nuclear Facility, at a cost of $5.8 Million USD per unit.
Although unlike yesterday’s volume is not that high, but it’s reasonable with more than 38.15 million shares have changed hand within first 90 minutes of session.
There were no news which could justify today’s sudden rally, but seems like some large penny stock traders were pumping up the stock in heavy quantity to gain attention.