Who or what can stop this "Penny Cap" rally ?
Thursday, 26 April, 2012 2:19 PM
Posted by Kevin Scully
Penny stocks have been dominating the volume on the SGX since February 2012. This is not unusual as we had our blue chip rally from Oct 2011 to Jan 2012 and through normal rotational interest the trading on penny stocks would increase on the back of more positive market sentiment.
The volumes that we have been witnessing on a number of "ultra penny stocks" have been a few hundred million shares per day and would include the likes of MDR, JEL and today Advance SCT. I am writing this short comment after reading the back page of the Straits Times today when more than 1bn JEL shares were traded yesterday. Let me put the 1bn volume yesterday in perspective - according to Bloomberg the issued share base ......