Bulls Of The day Penny Stocks
CAVU RESOURCES INC (PINK:CAVR) penny stock last moved up 20 percent to $0.011 in its last trading session. Its traded volume stood at 5.20 million shares as compared to its average traded volume of 4.59 million shares per day. The company’s outstanding common stock accumulates up to 177.98 million shares.
Looking at its price history the penny stock share price traded between the prices ranges of $0.00 to $0.07 in last one year. This can also be derived that CAVR is likely to find support at $0.00 while resistance could be seen at $0.07 level.
The penny stock share price maintains the beta value of 3.33 times which shows that the stock price is likely to move by 3.33 times against one point change in market index.
Advanced Cell Technology, Inc. (OTC:ACTC) penny stock last went up 2 percent to close at $0.09 with traded volume of 5.07 million shares as compared to its average traded volume of 12.49 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 $0.099 and low of $0.094. Its total market capitalization arrived at $197.32 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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