2 OTCBB Penny Stocks Sizzled The Investors Expectations
Cannabis Science, Inc. (OTC:CBIS) penny stock last plunged by 13.30 percent to close at $0.11 with traded volume of 27.42 million shares as compared to its average traded volume of 29.66 million shares per day. The company’s total outstanding common stock accumulates up to 241.92 million shares out of which only 224.91 million shares are floated in the stock market.
The penny stock share price is trading near its extreme oversold level as per its relative strength index of 20.41 times. MACD Moving Average Convergence Divergence indicates strong bearish trend in the share price movement as the both the MACD line and trigger line are in negative zone.
The company touched the day high of $0.13 and low of $0.11. The penny stock share price maintains the beta value of 5.34 times which shows that the penny stock price is likely to move by 5.34 times against one point change in market index.
Advanced Cell Technology, Inc. (OTC:ACTC) penny stock last went down 2.18 percent to close at $0.098 with traded volume of 9.98 million shares as compared to its average traded volume of 18.20 million shares per day. The company’s total outstanding common stock accumulates up to 2.03 billion shares out of which only 1.98 billion shares are floated in the stock market.
The company touched the day high of $0.105 and low of $0.098. Its total market capitalization arrived at $200.47 million.
The penny stock share price happens to be highly volatile and is negatively correlated with market index as per its beta value of -1.97 times. This means that the stock is likely to react by -1.97 times against one point change in market index and will be moving in opposite direction of market index. Stocks with negative correlation have a high significance in hedging strategies.
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