UPDATE: Kraig Biocraft Labs (OTC: KBLB) Hits New 52-Week High
September 1st, 2010 at 10:48 am Posted by
This morning, Kraig Biocraft Labs (OTC: KBLB) has gained about 9% over yesterday’s close, trading as high as $0.037, a new 52-week high for this biotech penny stock.
Since last Tuesday, the day the Company issued a press release hinting at a “press conference” for some time this month, KBLB shares have moved from $0.015 to today’s high of $0.037, gaining nearly 150%.
The Dean believes KBLB is gaining momentum, and a quick look at this penny stock’s chart says it all. In the past seven trading days, KBLB‘s volume has picked up significantly:
- August 23: 250,000 shares
- August 24: 902,657 shares
- August 27: 1,429,247 shares
- August 30: 896,977 shares
- August 31: 2,422,027 shares
And, so far today, KBLB has traded over 1.8 million shares, or more than twice its 10-day average volume.
While some have taken profits, The Dean believes that many others will hold their shares until “mid to late September” when KBLB “plan[s] to hold a press conference for the purpose of announcing laboratory developments.”
Currently, KBLB shares are trading at $0.0349, up 2.95% on the day.
The Dean wants all of his students to keep an eye on KBLB because he believes there’s more to come from this penny stock.
