The overall stock market traded higher last week despite hitting a few bumps along the way. The debt crisis in Greece continued to take center stage as an agreement on the country’s second bailout package has not been reached yet. Hopefully a Greek deal can get done this week so we can put that behind us at least for a little while. The Dow closed the week up about 100 points at just below 12,950. Oil futures jumped about $4 last week on news that Iran stopped oil sales to France and Britain. Europe had imposed sanctions against Iran and was going to stop importing oil from the country in the summer.
On the penny stock front, NSRS and ATRN were this past week’s active penny stocks.
NSRS has been pumped since late December in one the longest ongoing promotional campaigns since LEXG. NSRS opened the week around $0.70 and hit a high of $0.80 on Wednesday. The stock then quickly fell to below $0.40 before recovering to around $0.55 by the end of the week. NSRS was one of the most traded penny stocks last week and averages about 51 million shares a day on average. North Spring Resources (NSRS) has been releasing news on a near daily basis and announced on Friday it signed a letter of intent to acquire interest in four producing gold properties in Mexico.
ATRN was the other hot stock for the week moving from $0.18 at the beginning of the week to $0.30 by Friday. ATRN has been rallying since early February when it was trading around $0.05. It seems the launch of their new online marketing tool is the main driver behind this rally. ATRN hit a high of more than $0.34 on Wednesday and then dropped quickly to $0.18 before jumping right back up.
We never hold a position in stocks we cover and are not investment advisors. This is for entertainment purposes only.