Penny Stocks To Buy [or sell] #2: ToughBuilt
One of the companies that disappointed investors earlier this month was ToughBuilt (TBLT – Free Report). Shares of the company were on a roll and moved from $0.222 to highs of $0.48. Investors piled into the stock leading up to its sales results. After that, shares began to slide right through the end of the week last week. The nail in the coffin came after ToughBuilt announced a $9 million capital raise at a price of $0.21 per share.
In response, TBLT stock fell further to lows of $0.144. However, since then things have been heading back in the right direction. On Wednesday, the penny stock saw its first signs of life as shares jumped to highs of $0.1829 during the first half of the trading session.
A recently filed 13G statement shows that Sabby Volatility Warrant Master Fund has taken a considerable position in the company. This paired with the new cash-infusion seem to have helped boost sentiment in the market. With the planned launch of 14 categories of hand tools during the first half of 2020, will this indicate a pivot point for TBLT stock?