Investors Look to Fannie Mae for Speculative Gains - Futures Flat Ahead of Open - Top Trading Stock Focus: Fannie Mae, AMR Corp, Green Innovations, Titan Pharmaceuticals, Freddie Mac
LONDON, March 18, 2013 /PRNewswire/ --
The futures were flat ahead of the open on Wall Street Monday morning as investors looked to a new week of trading. Fannie Mae is a company we started to follow last week and shares have picked up steam with the company trading heavily at the back end of last week with multiple double digit days to the upside.
Fannie Mae was one of the heaviest traded stocks in the OTC Markets in Thursdays and Fridays trading; we started reporting there was an increase in volume back on Tuesday with the stock trading 4 times its average daily. Fannie Mae closed last week's trading higher by 39% on very heavily traded $20 million which was only second to that of AMR Corporation on the day. We will see if there is follow through on the stock today, we have seen many times before that stocks at new highs on heavy volume tend to go higher.
AMR Corp was also trading very heavily to close the week with almost $100 million exchanging hands on the slowest day of the week. Shares of AMR Corp closed Friday at $3.80 per share down 8%, this merger with US Airways has given out more gains than expected to shareholders. We have been reporting on AMR Corp since it was trading at 0.60 cents per share. For a company in bankruptcy to return over 700% just goes to show you that headline news don't always win the day. Stay tuned or sign up at our website to receive more companies like this. http://www.clubpennystock.com
Green Innovations seems to have run out of steam the last two trading sessions with the stock being flat and down 13% respectively. Shares of Green Innovations have been on an amazing run higher over the last week but the volume and price did slow down on Friday with Green Innovations trading $7.7 million on the trading day.
Freddie Mac was trading in positive tandem with shares of Fannie Mae with the company experiencing upside with heavy volume in Fridays trading. Freddie Mac shares were higher by 34% on over $7 million on the day.
Finally shares of Titan Pharmaceuticals were back in the news on Friday and the shares traded heavier than normal volume to close the week. Titan shares were higher by 6.4% on over $4 million in volume on the day.
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