Does Apple Shakeout Make It a Value Play for Investors? : Cereplast, Cannabis Science, Echo Automotive, Swingplane Ventures, Growlife, Inc.
LONDON, February 6, 2013 /PRNewswire/ --
Reports are swirling around Wall Street calling for the shorting of Apple Inc. stock and, completely different to some of the reports we were seeing a few months ago, calling for $1,000 per share plus. At current levels of approximately $450 per share on Apple, are we seeing the momentum investors shaken out of this trade and the value vultures sitting on the sidelines waiting to pounce? From a price earnings perspective it seems that shares of AAPL could be ripe for bottom picking over the next few months. It's important to note that Apple has traded lower in a very strong market of late; if the markets trade lower, this could be another headwind standing in the way of investors getting involved.
Cereplant was the big price performance mover in the OTC markets yesterday, climbing over 47% in an action-packed trading day on the street. Cereplant traded over $3.2 million in the process, which is high volume for that particular stock. Cereplant was also trading higher in the markets today by a further 20%, putting the stock at 0.05 cents per share.
Echo Automotive was the only name we have featured today that managed to follow up on a strong day's trading Tuesday and another today. After edging its way back to the $2.00 level shares of Echo Automotive were higher in trading on Wall Street yesterday by 11.6% on over $7 million in trading. In today's trading Echo Automotive has broken through the $2.00 level and is higher by 20% on the day.
Growlife, Inc. only pulled back 4% in trading yesterday after being higher by north of 40% in the previous day's action. Growlife continued to show strength in volume with over $4 million exchanging hands on the street yesterday; however the stock is lower today by around 19% on the trading day.
Cannabis Science finally pulled back after a week of gains for the fashionable stock. The stock traded lower by 9% on Tuesday with around $6 million traded which was an increase on the previous day's volume. Today Cannabis Science is lower by 8% in the OTC markets.
Swingplane Ventures was another name that was due a min pull back and got exactly that to close the day on Tuesday, even after trading higher earlier in the day. The stock finished yesterday lower by 11% on $4.7 million traded on the day and in early trading today Swingplane Ventures is higher once more by 4% on heavy volume.
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