Market Gone Wild Penny Stocks Are Up Nearly 80% On Average In The Last Week
Retail investors are snatching up any piece of the market to get in on the major comeback rally — this time its penny stocks. Stocks trading below $1 per share have an average gain of nearly 80% in the past week, according to a note from the Institutional Equity Derivatives team at Citadel Securities obtained by CNBC.
As economic conditions improve suddenly, stocks have rebounded sharply off their March lows. The Nasdaq Composite hit a new record high above 10,000 for the first time ever and the S&P 500 is close to the flatline for the year. Read more….
Chart Of The Day
Dr. Marc Faber of the #GloomBoomandDoomReport finds it odd, although simultaneously one of the more attractive investing opportunities most have ever seen. Dr. Faber also comments on the current Fed policy, how it’s impacting the world, and how this will all play out.