Penny Stocks To Buy [or sell]: Taronis Technologies
Now, let me be the first to say Taronis Tech (TRNX) has been in a love/hate relationship with traders for months. The penny stock has seen sporadic and explosive jumps in price. And this has happened countless times in the past. But no matter how far you go back in time, you can’t avoid the fact that TRNX stock hit fresh 52-week lows less than 5 days ago. Does it negate the “trade-ability” of the penny stock? No, but no one can say “if you held onto it since X date, then you’re right today.”
But why even point that out? Well, it’s important to understand the historic potential of certain stocks. While we see that Taronis stock has managed to surge a bit on March 30, it’s key to understand the trading trend of it as well. Has TRNX gone on for months of gains at a time? Again, the answer is no but it has seen multi-day moves of over 100%. So interest is likely piqued with some traders right now.
So what triggered this early move in Taronis? A look at the company’s news feed doesn’t say much but if you look at recent filings, you might find something interesting. In a disclosure statement dated March 30, the company put out an 8-K. If you subscribed to our newletter and read through the 60+ page intro to penny stocks book, you know what an 8-K means. Within the filing, the company revealed that one of it debtors, First Choice had its debt satisfied in full. Now, will this open some new doors for the company or will this once again become just a quick pop in the stock? Shares reached highs of over $0.23 after the close so we’ll see if the same momentum continues on March 31.
