MXXH - Coming Back To Life Penny stock GURU
I get numerous emails each day asking what stocks look ready to buy as well as emails asking if I think a stock will rise 1000%. Most of the time the stock ticker is a stock that has already risen 500%. Face it, the average penny stock investor is buying a stock after most of the gains have already been made. Why? Because they see the press releases and get the promotional emails telling them to buy a stock. The key to buying penny stocks is finding one of these runners before they run. Before the press releases start hitting the wires. Before the promotional campaigns start pounding your email. Before investors start buying up the stock.
I think MXXH provides an opportunity to get into a stock before the press releases start hitting the wires. At its current price I think it could trade 300% higher short term.
MXXH issued an 8-k this past Friday outlining their plans going forward. It was the company's first correspondence in well over a year signifying that this stock may soon become active again. The past few weeks MXXH has seen some volatile trade, with this 8-K filing the stock has some concrete footings in which to build a substantial rally.
The company, per the 8-k, is looking to acquire oil wells, more specifically the company will secure working interests in both producing, and exploration and development properties. With the recent oil rig explosion and subsequent unmitigated spewing of oil into the Gulf MXXH has timed their entry into land based oil exploration perfectly.
With news of an acquisition hitting the press and the reasonable share structure, MXXH should trade over $.01 a share. The updated share count is 125 million outstanding. I would think the float is much smaller than that:
Outstanding Shares
125,000,000 as of Apr 23, 2010
Authorized Shares
400,000,000 as of Apr 23, 2010
The company is also working to get uplisted to the OTCBB. This would be an important step for the company, and one that would provide more transparency to shareholders.
I believe that the April 30th 8-K represents a new beginning for MXXH and its shareholders. One that will bring substantial gains for the stock. MXXH should be a great trade going forward in anticipation of company press. MXXH is a stock to keep on your watch list in 2010. It is coming back to life in a big way.
MXXH APril 30th 8-k FILING
Posted by Robert Wilcox at 8:57 PM 0 comments
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