One of the most exciting things about investing in penny stocks is how much and how fast they can soar! On any given day, several penny stocks will move in double and triple-digit increments.
Two big movers in today’s trading are SGOCO Group (SGOC) and Daqo New Energy (DQ). Let’s take a quick look at these penny stock movers & shakers.
SGOCO Group (SGOC)
What: Shares in SGOC were up by more than 80% today when the stock jumped from $1.01 to $1.82.
Who: SGOCO Group is a company focused on product design, brand development and distribution in the Chinese flat panel display market- including computer monitors and TVs. The Company sells its products and services in the Chinese market and abroad.
Why: SGOC just announced their annual shareholder meeting will be on December 28th in Beijing. At the same time, the company also released an update on growth initiatives and staff appointments. SOGCO intends on broadening their customer base by expanding into the US flat panel market through a subsidiary.
Daqo New Energy (DQ)
What: Shares of DQ are up over 35% in today’s trading.
Who: Daqo New Energy is a leading poly-silicon manufacturer based in China. DQ manufactures high quality poly-silicon using modified Siemens closed-loop process. The company manufactures ingots, wafers, cells and modules for PV solar power solutions.
Why: Daqo just announced the appointment of Mr. Arthur Wong as an independent director for the company. Mr. Wong will also serve on several other committees within DQ. This appointment fills the gap left when Dr. Daqing Qi resigned from the board of the company for personal reasons. It seems investors are excited to have new leadership involvement once again.
Also, shares of DQ are seeing heavy trading, up over 200,000 today alone. The normal average is down near 11,500 shares a day.