POSTD Merchant Banque (OTCMKTS:PMBY) was the biggest percentage gainer on Thursday. The stock went up 1233% to close at $0.28 on a very unusual volume.
After starting the day flat, the stock saw sudden buying activities in the late-morning trade and picked up momentum. The stock soared all the way from $0.02 to as high as $0.72 – that’s a jump of 3500%. However, the stock could not sustain and fell to $0.28.
One should not that there was no news and often penny stocks do not actually any trigger to move up or down. The stock had witnessed 13.18 million shares for the day, compared to its average volume of 330K shares.
Although at a glance, the rally looks big, one should be very careful while trading penny stocks without any news back up.
POSTD Merchant Banque operates as a non-depository financial institution that offers institutional debt or equity for clients in the private markets in the United States. The company provides corporate finance advisory services.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.