This week has seen a rapid share rise and volume expansion for shares of TGI Solar Power Group, which trade on the US OTC under the symbol TSPG. The stock trades for less than 10 cents and has a market cap around $5 million US dollars so is considered to be a penny stock. That means it is a high risk situation for people who buy it, but also a highly volatile one so those that catch it right can get some big swings in the stock.
Here is the chart of the stock TSPG. You can see that until January the stock basically did no volume and had no price action, but that began to change last week.
This stock was less than a tenth of a cent at the end of December so has gone up 300% in less than three weeks. That type of action has created a lot of excitement. An example of this is the tweets of various traders such as these.
The company itself put out a tweet last week that has brought attention and likely buying into the stock.
Good afternoon $TSPG shareholders. Just heard back from OTCmarkets, our app was successfuljy received And being reviewed . Watch for filings and watch the wires, we are excited about it. We believe shareholders will be pleased with the latest developments . #MoneyTime— TGI Solar Power Group, Inc./TSPG (@TgiPower) January 14, 2020
The funny thing is that the company has not put out an official press release since 2017. It is hard to get clarity on the company’s earnings and what it is actually about. That happens often in the penny stock world in which many companies are deficient with their filings with the SEC. There are different levels to pink sheet and OTC listings and higher levels have more clarity.
This is a highly speculative stock and I have no position in it and I do not think there is enough information on it to have a real opinion. Traders can only play it based on pure price action and nothing else. Although I think the stock market is ok for now it has gone up so much that people are wondering if it is heading for an exhaustion top. There are other stocks I am more interested in at this moment with some bullish action actually finally coming into some of the cannabis stocks now after a giant December selling dump in many of them.