WRIT climbs, MTRO trades, QING drops

Posted on: March 23rd, 2011
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Writer’s Group Film Corp. (Pink Sheets: WRIT) climbed in price 80.5% to 6.3 cents in Wednesday’s trading. Volume was 29.6 million shares, more than four times its daily average, a day after one of its subsidiaries announced the acquisition of several hours of unique Metallica 3D & 2D concert video footage for distribution.

Metro One Development Inc. (Pink Sheets: MTRO) was among the volume leaders in the microcap sector, dealing in 112.7 million shares, on nearly 10 times its average. Share prices were flat at two-100ths of a cent.

Qingdao Footwear Inc. (OTCBB: QING) dipped 66.7% in price Wednesday to 80 cents, on volume of 15,933 shares, or nearly seven times its daily average. The company is a designer and retailer of men and women’s footwear products.

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The term "penny stocks," also known as micro-cap equities, micro caps, small caps, pink sheets, refers to shares in a company that trades for less than $5.00. Most penny stocks trade on the OTCBB market and the pink sheet electronic quotation service. Penny Stocks can be very volatile and can see gains as much as 500% in a day. Volatility in penny stocks is also dangerous because penny stocks can come down as quickly as they go up. If you trade penny stocks based on stock picks, make sure to always do your due diligence on the companies you're considering, use stop loss orders, and book your profits when you are in a position to do so.