Top 5 OTC-BB and Pinksheets Market Movers
Genta Inc. (GNTA), Cord Blood America Inc. (CBAI), Gemini Explorations, Inc. (GXPI), EcoSystem Corporation (ESYM), and Legend International Holdings, Inc. (LGDI) were among today’s top movers.
Genta Inc. [[GNTA.OB]] shares fell sharply after it announced that it may run out of funding in June, which could lead to bankruptcy or additional dilution at best. The news comes just a day after traders pushed the stock to the upper end of its channel, which means the nearest downside support appears to be around $0.006. See Article
Cord Blood America Inc. [[CBAI.OB]] shares jumped more than 15 percent after it announced plans to acquire or build its own stem cell laboratory. The move will reduce costs for both the processing and storage of client stem cells. Investors are also bullish on increased stem cell funding from the U.S. government under President Obama’s spending plan.
Gemini Explorations, Inc. [[GXPI.OB]] shares surged more than 100 percent as shares broke out from their 50-day moving average and broke its descending triangle pattern. Technical traders have been heavily trading the stock, but investors may want to sit on the sidelines as no new news has yet surfaced to justify the surge in volume and stock price.
EcoSystem Corporation [[ESYM.OB]] shares moved nearly 75 percent higher for yet another session following plans to conduct operational trials of its Feedstock Machine at targeted poultry and swine processing companies. The machine is an integrated, scalable solution that converts poultry and swing manure into high protein feeds, natural oils, and high quality soil amendments.
Legend International Holdings, Inc. [[LGDI.OB]] shares jumped nearly 20 percent after it announced plans to acquire all the shares that it does not own in North Australian Diamonds through an open-market takeover valued at over $20 million. The company already owns a 34 percent interest in the company and will purchase 1.7 billion shares between now and May 26th.
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