AERN Stock Soars
Like some former hot penny stocks (AER Energy Resources (AERN.PK) has pulled off a tremendous trading bounce for longs and is almost 7 cents, which is rough;y halfway back to last month’s high. AERN seems to be under promotion right now and seems to be a penny stock to watch.
AERN is in the business of developing and commercializing zinc air batteries. Like many penny stocks AERN has multiple patents, and although patents are not a guarantee for stock market success, they should be monitored.
As far as hot penny stocks go, AERN is somewhat of a fallen angel as the stock was trading at 74 cents less than 52 weeks ago. However, shares are trading far above their 50 and 200 DMA’s of .1486 and .077 respectively. In this market that is a bullish sign.
AERN Stock Making A Comeback
Fundamentally speaking currently operates on 354k in revenues, but only has 22k in cash and has roughly 132k in debt. Now why is (AER Energy Resources (AERN) moving higher ? Well it’s purely supply and demand. Like many hot penny stocks, news flow and events are important, and today AERN made a significant announcement, especially for a penny stock.
The Scottsdale, Arizona based company issued a PR of a joint venture with a estimated value of over $400 million. Keep in mind that AERN is a penny stock, and the actual terms of the announcement can be fluid and questioned by smart money.
For now, just add AERN to your penny stock list, and although the stocks’ activity and message boards are heating up, the company is by no means a sure thing. So watch tomorrow’s open for a gap up. If you are long already and a strong open occurs, it might be wise to take a short profit, because a retracement to the high in AERN is still a large percentage move away.
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