Yangtze River Port and Logistics Limited
Yangtze River Port and Logistics Limited (YRIV Report) shares traded higher for the third day in a row on Thursday. The company’s shares gained over 60% to $1.86. The company’s stock had only roughly 10 million shares showing as its tradeable float according to FinViz information. And if you’re looking for news on this penny stock, you’ll likely find more Legal press releases than anything. Companies like “Bronstein, Gewirtz & Grossman,” “Ken Law Firm,” and others are filing suit against the company.
These firms allege that Yangtze made false or misleading statements and failed to disclose certain information. Regardless of what may or may not have happened, that market has spoken. Thursday, shares of Yangtze River skyrocketed, trading its highest daily share volume in the history of this penny stock.
Tonix Pharmaceuticals (TNXP Report) also saw high levels of trading activity. Besides having a relatively low
What was this milestone TNXP news? The company announced the expansion of its TNX-102 SL 5.6 mg program to also include Phase 3 development for fibromyalgia. Branded as Tonmya (TNX-102 SL), this is their lead Phase 3 program in PTSD with Phase 3 recovery trial actively enrolling military participants. They’re also enrolling civilian patients. The markets are receiving this news well and shares have hit highs of $3.22 in premarket trading.
Frontier Communications (FTR Report) has been a long-beaten down telecommunications stock that just recently has seen bullish momentum. The recent excitement has come after Frontier announced that it would release 2019 Q1 results as well as host a conference call on April 30. Frontier “established a transformation program with the objective of improving revenues, profitability, and cash flows by enhancing our operations and customer service and support processes.”
Shineco Inc. (TYHT Report) continued to raise eyebrows on Thursday. The company previously sparked intrigue after making a marijuana stock related announcement. The company made the announcement at the end of March. On April 4, the company announced that it entered into a strategic cooperation agreement with the Xingshan People’s Government of Hegang City of Heilongjiang Province. This was done through a Shineco subsidiary, Tenjove NewHemp Biotech Co., Ltd.
The deal between the two parties focuses on jointly producing industrial hemp as well as establishing a CBD Extraction Industrial Park. Furthermore, the deal is calling for the creation of an Industrial Hemp Research Center, affiliated with China’s Academy of Science. Furthermore, there will be an Industrial Hemp Workstation that is sponsored by the City of Hegang of Heilongjiang Province.
Though this company “came out of nowhere” to add cannabis, could this end up turning into a “real deal” marijuana stock? Comments welcome.