LONDON, July 10, 2014 /PRNewswire/ --
Shares in Fannie Mae (OTC: FNMA) closed higher by 3.07% ahead of the market open on the OTC board today. The close above $4.00 came on heavier volume than has been traded over the last few weeks after trending lower by 15%. The stock is around the same price it was trading at back in April before it made a move back to the $5.00 range with value investors sniffing around.
Immune Pharmaceuticals (OTC: IMNP) closed higher by 7.7% and broke through key resistance which is the first time it has achieved this on a trading close since April. With the volume steadily rising over the last three trading sessions and the price moving up from $2.50 to break $3.00 this looks like a momentum play that's starting to gain traction. Traders will have an eye on this name at the open today especially with shares closing right at the highs of the day.
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Cannabis Sativa (OTC: CBDS) was one of the largest gainers of the day in the OTC markets as that stock closed up by 48% on a large increase in volume traded. With recent changes in management and an acquisition completed it seems as if this company is ready to go and attack the market with now more than 30 players across the US that are publicly traded. Shares were up in the $16.00 range at the start of the year and investors will be hoping for more of the same.
With another company in the same sector United Cannabis (OTC: CNAB) also closing higher in the double digits by 11.5% it was a rosy day for the medical marijuana stocks in OTC trading yesterday. Volume was more than 50% higher in United Cannabis than the previous day as its shares approached $3.00. After recently signing new marketing and distribution agreements the volume may increase with awareness.
Cynk Technology (OTC: CYNK) was another large gainer within the OTC as its shares closed up by a whopping 149%. All eyes will be on their shares this morning as they closed just below $15.00 before the market open this morning. With a previous close of just $5.89 it was an astonishing move to the upside that should make for an interesting days trading in the stock.
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