In what has been an ugly morning for the US stock market thanks to some nasty selling, shares of View Systems, Inc. (OTCMKTS: VSYM) have been one bright spot. Shares of this penny stock are up over 71% today on over 100 million shares of trading volume. The activity is making it one of the top traded stocks today on the US OTC market.
In fact the stock price has broken out of a resistance range to trigger lots of stock scans and chart signals. Take a look at the chart. See the move for yourself.
The VSYM stock is a penny stock with less than $500,000 in market capitalization. The company reinvented itself for the penny stock world by creating a cannabis subsidiary. It announced news today that it has received USDA approval to import cannabis into the United States:
“The USDA issued the Import Permit to the Company President for the import of the whole Cannabis plant or its parts including, flower, seed, stem, root, and leaf to be processed. The permit authorizes the import of Cannabis to the following designated ports: Nogales, AZ; El Segundo, CA; San Diego, CA; South San Francisco, CA; Miami, FL; Orlando, FL; Atlanta, GA; Agana, Guam; Honolulu, HI; Linden, NJ; Jamaica, NY; Carolina Puerto Rico; Humble, TX, Los Indios, TX; and SeaTac, WA. Import Permit # P37-20-00233 was issued on January 30, 2020 and expires on January 30, 2023. The USDA also issued custom shipping labels with this permit number to be used when importing cannabis.”
This news and the price action is exciting stock traders on Twitter today:
$VSYM This WILL skyrocket VERY SOON! GET IN BEFORE IT DOES 🚀 #stockmarketnews #StocksToTrade #watchlist #otc #FridayThoughts Think about what is coming out THIS SPRING and SUMMER 🤔😉 MARK THIS POST! https://t.co/gHlUGtSP8t— Investors365 (@Investors365) January 31, 2020
$VSYM .0009 continues to post solid news as we saw last run and latest updates this #hemp producer is making moves with estimated 250k pounds of #hemp production and now approval in U.S THIS WILL BE A BIG NATIONAL PRODUCER WITH REVENUES https://t.co/gYvplsR09u— Radio Silent (@RadioSilentplay) January 31, 2020
I do not own this stock. I wish I bought it before today’s big move. I prefer to look for stocks before giant moves like this. I have my own cannabis stock I own and am watching maybe it will have a day like this one has been for VSYM.