This Has Been One Of The Best Penny Stocks of 2019 And PennyStocks.com Was All Over It!
NOTICE: We have recently been made aware of comments which falsely claim that we were hired to promote Discovery Gold Corporation. This claim is 100% not true. All the companies we work with will be listed on our disclaimer page as well as disclosed on any and all articles and or news releases from that company.
When it comes to penny stocks, there are always headlines that can be considered click-bait. I wouldn’t fault you for thinking that after reading this headline. But what I will say is that we practice what we preach at PennyStocks.com. What do I mean by this?
Well, for starters, unless otherwise specified, PennyStocks.com nor its writers have any interest in this company. But we do make a point to report on the best penny stocks to watch when we see certain trends emerge.
This having been said, all I have to say is “WOW.” At first blush of this one penny stock, and it would appear that it had been just a short term breakout. But we kept digging to see if there was some writing on the wall. What company am I talking about? Discovery Gold Corporation (DCGD Stock Report), which is now adding in the name “GRN Holding Corporation.”
Penny Stocks And The Reality Of This Move
Back in July was when it first caught our attention. At the time, DCGD stock was trading around $0.07. A few days prior to that it was trading at $0.01. This week, DCGD broke the $2.15 mark. That makes a run of more than 21,000% from $0.01. And it wasn’t like the move was made on tiny trading volume either.
A lot of people can claim to have seen such a big run but if you’re talking about a 20,000% run on less than 5,000 shares traded, it just means there’s really no stock in the market. But DCGD was recognizably different. If someone put $100 on DCGD back at a penny and sat on it all this time, the $100 position would now be roughly $21,000. Not bad right? But I personally don’t know many who would wait that long without taking profit and/or reinvesting along the way.
If we really wanted to be over the top, you can trace back the 52-week low on DCGD to $0.0021. But trading volume was so small that it wasn’t likely anyone was looking at the company at all. In that case, DCGD’s run would be in the ball-park of 102,000% but most likely not realistic for anyone reading this article today. It’s very important to understand that moves like this aren’t the norm and still, speculation may play a role. Always do research and manage risk along the way. Volatility can hurt just as much as it has helped so keep that in mind with penny stocks that make big moves like this.
What Happened With DCGD Penny Stock?
So what transpired? When it first caught my attention was when the gold stock rally was getting going. It was marked as one of the 5 Gold Stocks To Watch For July. I made sure to highlight the fact that besides the trading momentum, there was nothing else besides a filing that could have been a catalyst. The filing showed GRN Funds LLC purchased 139 million shares of common stock. This made the fund a 55.65% owner of the company.
In a follow-up article, I made sure to highlight the company in deep detail as well as some speculative ideas that may be in play. Again this was speculation and trying to connect some dots but it appears the speculation fell into place. In the article, “Money Making Penny Stocks: This Gold Stock Is Up Over 2,900% This Month,” we dove into everything. No news, minimal filings but information on one fund, GRN Funds LLC.
“The 8K is where the interest lies. DCGD did a stock purchase agreement with GRN Funds, LLC which is headed up by Justin Costello. He’s a Harvard Business School Alum and graduate of the University of Minnesota in Public Business Administration. So at least we know his education is related to running a business. Furthermore, GRN Funds is no small firm showing over $1.1 Billion under management.”
Penny Stocks Gets Down To Business
It made sense that this could become a pot stock due to the holdings already part of GRN. With a cache of pot assets, DCGD has been building on the cannabis angle. Discovery Gold has added cannabis industry-related board members and seen GRN Funds CEO jump on as an advisor to several other cannabis companies as well. These other pot companies include Imaging3, Inc. (IGNG Stock Report) and MCTC Holdings (Cannabis Global Inc) (MCTC Stock Report). Could these two pot penny stocks hold the same fate?
Well, as far as IGNG stock and MCTC stock go, both have seen surges in trading momentum following the announcements. However, will they be as sustained as DCGD’s massive move? Time will tell. But I didn’t want to let too many weeks go by without recapping the fact that DCGD has become one of the biggest moving penny stocks that we’ve covered.
For those of you who are die-hard PennyStocks.com readers, I hope that initial insight helped because we were all over the company from early on. We even had a few trolls go on to say we were paid to promote it.
Now, don’t get me wrong, we do have a clear disclaimer. But we’re legally bound to list all companies we’re paid by and we have to publish that disclosure any time a paying company is discussed. That means if an article mentions a paying party, it will include the appropriate disclosures in the article itself. As for DCGD, that was just another one of many penny stocks we followed closely and saw (have seen) a monstrous run.
What’s Next For Penny Stocks?
The name of the game is to report on top penny stocks, explore potential penny stocks to buy, give information on penny stock basics, and update readers on new ideas. We aren’t here to tell you when to buy penny stocks, when to sell penny stocks, or give financial advice whatsoever. If anything, we’re here to give you a starting point for your research.
In keeping to this, make sure you’re coming back to the site every day, subscribe to the newsletter (it’s free), and give feedback. We love hearing from readers. So what’s next? You name it!
The market never ceases to impress investors and I personally enjoy getting my hands dirty to dive deep into stocks like DCGD. There may not be info on the surface in the form of news but getting to the nitty-gritty of financials/related events can really clear up the noise. Stay tuned.