Stock Prices Hit or Miss in a Down Week for the Markets
GeekNet (GKNT) is this Week's Market WinnerAfter news of a buyout by teen clothing store Hot Topic (HOTT) broke, GeekNet (GKNT) stock shot up over 151% in 5 days.
5 Hot Penny Stocks of the WeekThis week was a hot one for micro and small-cap stocks, but we're only covering the penny stock currently trading for under $5 per share. Of that select group, we've got representation from across the entire market, from sectors as widespread as biotech, health services, heavy industry, and industrial chemicals. One Horizon (OHCI), which comes from the medical sector, led the week in gains with 130% growth. Share prices of One Horizon shot from less than $2 on Tuesday to close at $3.68 per share at the end of the day on Friday.
Cleveland Biolabs (CBLI) made a strong showing at #2 this week with posted 5-day gains of 50%. Share prices of Cleveland Biolabs have grown from $2 on Tuesday to nearly $3 at the close of Friday. Ceres Inc (CERE) posted 40% gains on the week, moving from $1.40 per share to $2.37. Oncothyreon (ONTY) and Flexible Solutions International (FSI) rounded out the top 5, posting gains of 14% and 23% respectively.
Euro Barely Bounced Back from Its Latest FallThe Euro has been having a hard two weeks, as the world has watched the currency recover, then falter, then drop again. The Euro's recovery is going to be a long one, made even longer by the fact that some of the Eurozone member states are essentially insolvent.
What had been a slow but building recovery is now in tatters. While the US worries about small adjustments to the prime interest rate, the Eurozone is trying to figure out how to structure billions in debt that doesn't look likely to be paid anytime soon. While banks in the US will soon be raising interest rates by choice, banks on the continent will likely have to concern themselves with growing inflation.
The bottom line is that, what had been a promising recovery, has clearly stalled out over the course of this week. The Euro is back where it started, gaining slightly over Thursday and Friday, but still extremely weak. Analysts expect the Euro to remain fragile until some of the systemic problems are fixed in the Eurozone -- whenever that might be.
United Rentals (URI) Won't Stop Dropping After CEO FlubAfter the CEO made an offhand mention of soft May sales numbers, United Rentals (URI) just hasn't stopped dropping. It's now fallen over -15% in the past 5 days. United Rentals started the week at $105 per share, and has since fallen -6.09 points to $88.91.
Globeimmune (GBI) is The Market's Big LoserThe small-cap pharma researcher had its landmark Hepatitis B drug fail in Phase II clinical trials. The pharmaceutical industry is notorious for having back-loaded profits, so a failure like this could have a big long-term impact on the small company. Unless Globeimmune (GBI) can get a related drug into trials, this line of research may turn out to be a costly bust.
Published on May 29, 2015By Aaron Phillips