Today the US stock market averages all gapped down deep in the red on profit taking, but are attempting to crawl back up as we enter the noon hour. There are pockets of buying and only a few stocks are up this morning as much as shares of Sun Pacific Holding Corporation (OTCMKTS: SNPW) are today. Traders are looking for sectors and stocks that could benefit from the incoming Joseph Biden administration and Democratic control of the House and Senate. Green energy is one theme that is emerging as an area that should see positive government funds going into it and help legislative action. This is the main reason why shares of Sun Pacific Holding Corporation (OTCMKTS: SNPW) are soaring on the US OTC exchange and have been advancing for a week since the electoral college vote.
Sun Pacific Holding operates several subsidiaries, including MedRecycle, Street Smart Outdoor, National Mechnical Group, and Sun Pacific Power Corp, which builds competitively priced “Next Generation” solar panel and lighting products. Many are hoping that tax credits and government action will encourage more people to go solar.
In its last quarterly report, for earnings ending last September, Sun Pacific Holding Corp reported revenue of $88,000 and and expenses of $246,000. The stock now has a market cap of over $54 million US dollars, with a big portion of that market cap generated by today’s big stock rally. The stock has a trading float of roughly 20 million shares and is generating a lot of interest on Twitter today, as it already has traded over 100 million shares in volume this morning.
$SNPW stoking on how the process has been starting to work and make sense for me! Got in on that panic dip buy from 67s to 82s a beautiful 8% and $32 for me. Im trading small and thats ok with me. As long as I'm learning! Im in it for the marathon! Need the reps! Ty @timothysykes pic.twitter.com/P6mbN0S3ui— Nu'u Kahalehau (@nuutrader) January 22, 2021
$SNPW gettin real close to Nickel-town now, at this rate I don’t even know if we will stop for lunch, well on our way to Dime-ville and Quarter Kingdom. 🚂🚂🚂— Stock Addict (@stock_addict) January 21, 2021
I have no position in this stock and neither does Mike Swanson, the head editor of this website. It has already gone up too much today for me to want to get in, because I like to buy before big moves like this and we have to always be watching for what is next to line up. You can get Swanson’s free stock market alerts by getting on his free email list, just click here to subscribe.