Today shares of penny stock Medizone International (OTCMKTS: MZEIQ) are soaring on trader talk linking them to the big news of the week, which is of course the coronavirus outbreak in China. Traders are looking for something to buy to play that news and in the OTC market in the US this stock is one way they have been doing that today.
Take a look at the wild price action as the stock is up 700% this morning. The company though has a market cap of less than $300,000 so it is one of the most speculative stocks you can buy. It is doing 39 million shares in trading volume this morning.
The company filed for bankrupty protection in 2018. It’s website no longer functions and it has not made an SEC filing in over a year. That isn’t stopping people from looking at it as a solution to the China virus as a reason to buy the stock as these tweet’s today show:
$MZEIQ 700% 004, happens every time there is a natural disaster, epidemic etc…. Certain tickers soar— Garyst (@garyst0101) January 24, 2020
This thing will be at 01 by the close, get weekend hype and be a few cents next week.
I'm not pumping…. but in 20 yrs seen this over and over and over.
This stock wins my award for the most speculative stock of the week. That doesn’t mean it can’t go up higher from here, but I do not think it is something to hold on to for long if you are playing it. Personally I’m watching what is happening today with cannabis stocks this week and a nice setup in my favorite small cap silver stock.