Is this the new golden stock like facebook or google? Can this stock really continue to rise?
The stock rose 34.82% today, including after market, and it has been rising at this rate since last month. Any stock that moves this quick, in such a volatile manner, should be looked at with suspicion. It went from 1 dollar to above 5 dollars, in the span of couple weeks. This is alarmingly suspicious, especially if the company barely met the nasdq minimum requirement of $1 dollar just couple months ago.
ITUS is not the only stock that’s behaving like this. There are other penny stocks out there, such as $NETE, $INPX, $SSC, $ASTC, $AXN, $ORPN. Now my question is, why are they behaving like this? What’s moving the stocks in such a behavior? When situations like this happens, people will try and explain why the stock price went up by looking for news.
After researching and reading couple of news articles related to ITUS, you can find some stuff related to patent for cancer technology, 8-k reports, and artificial intelligence. But after assessing all these news data, you should know these news shouldn’t affect the price as much as it did for the past month. It’s not like the company actually made any revenue or got a huge business deal (which will make money soon).
If the news articles doesn’t match to the change in value for the stock, you should always expect pump and dump, especially when it involves a penny stock. Don’t take my word for it, since it’s my opinion, but I believe ITUS is a pump and dump stock. However, this is a great opportunity for someone who are good at entering and leaving the trend at the right time. Enter when it’s low and exit before the price comes crashing down.
This stock is now the hot talk all over the website like “stocktwits”, where I personally think it’s a place filled with fake people pretending the stocks are a must buy to get the price even higher before dumping. Suckers will get played, so don’t get too greedy and walk away while you made profit.
As of now, I feel that the bulls are in full control. The price will keep rising and may even break through the $10 dollars a share cap before it comes crashing down. If you plan on going big on this stock, make sure to keep your eyes on it.