The reinvention of several penny stock companies and the potential entry of one of them into the medical marijuana business are factors boosting their share values.
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Voltaire Corp. (OTCQB: VLTCW) stock price gained 0.979 cents Jan. 24 , closing at 99 cents, up 0.979 cents from 0.011 cents the previous day, on stock volume of 1,984, which is nearly twice its three-month average volume of 1,139.
Since there is a dearth of public information about the New York-based provider of mobile data services, there is no known reason for the sudden uptick in Voltaire’s share price.
But according to its most recent SEC 10-K filing, the company has recently shifted its market focus from selling mobile-data services from consumers to companies.
"We increased the focus on our mobile media business and the services provided to advertisers and markets and expect that future growth will come from these activities," the company said in its filing.
Some speculate that this shift in market focus is the reason behind the stock’s sudden surge.
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Less than two weeks after Rangemore Film Productions Corp. announced the changing of its name to Cre8tive Works, Inc. (OTCPINK:RANFD), it has issued another release outlining its objectives for 2014:
"Today we consider Cre8tive to be a new company,” CEO of Cre8tive Works, Andrew McLaughlin," said in a written statement. "We have a new name, new logo, new stock structure, and we now can start funding and developing all the projects we have in our pipeline. This is a new start and we are going to ensure that we take full advantage." McLaughlin added.
It remains to be seen if the goals set out by this revamped penny stock will be met.
Investors in the penny stock reacted favorably to the news. On Jan. 24, the Miami-based company that rents space to independent film companies stock closed at 14 cents a share, up 10 cents from its close of 4 cents the previous day.
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Find out what could be the best investor’s move when it comes to HRBK by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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