Wednesday, May 6, 2009
BWI Holdings Inc. (BWIH) (BWIH.OB) Gains 20% on Heavy Volume
BWI Holdings Inc. (BWIH) (BWIH.OB) has been the target of a stock spam, most recently since last Friday. (Follow our coverage of BWIH spam) It is interesting that the spam volume appears to be comparatively low, while the stock's direction has been strongly to the upside on pretty decent volume. On Tuesday, BWIH gained over 20% to $0.59/share, reaching $0.70/share during the day (the low was $0.55), on volume of over 411,000 shares. Volume was over 3 times Monday and was higher than the nearly 300,000 shares traded last Friday. BWIH also seems to have more legitimacy than most penny stocks that are spammed. BWIH is being covered by other websites as a "market mover" or a "stock in play." Also, for those that care, the Pink Sheets website still doesn't have a warning label (like "caveat emptor") as it usually would by now with a stock spam target. The last BWIH spam from Monday had revised near and long-term stock price "tarrgets" (sic) at $2.25 and $7.00 compared to $0.80 and $1.75 on last Friday. That's a helluva pump! We'll issue our own "caveat emptor" calling BWIH a speculative stock. If you buy, it's probably best to keep a close eye and be ready to close your position on short notice, that is if liquidity doesn't dry up.