Aug 27, 2010 10:04 AM PDT
Mitek Systems, Inc. (MITK.OB 0.45 +28.6%), a developer of advanced image analytics and mobile document capture applications for camera phones, is watching its shares rally sharply today after announcing its Mobile Receipt (tm) application is now available via the App Store.
The penny stock's move to a high of 45 cents pushed shares above resistance at 35 cents. Today's trading is also on pace to be the highest volume day since December, and the highest volume 'up' day since early 2008.
Bio Solutions Manufacturing, Inc. (BSOM.OB 0.62 +8.77%), a provider of biodiesel fuel and waste bioremediation services, is seeing its shares move nearly 9 percent higher following this morning's news that a collaboration with Wake Forest University has been initiated.
The joint work with Hammerhead Engineering LLC and Wake Forest will seek to develop a method of to pre-treat liquid brown grease into a reduced FFA (Free Fatty Acid) feedstock, which will ultimately be used to create B100 bio diesel fuel. In so doing, the waste grease will not need to be incinerated or put into a landfill.
Today's the highest-volume day ever for BSOM shares.
China Marine Food Group (CMFO.OB 4.30 +9.9%), which processes and distributes seafood-based snack foods and fresh and frozen marine catch to China's population, is watching its penny stock gain nearly 10% despite a lack of any news today. At its current rate, CMFO will post one of its highest volume gains since shares started to rally in March.
The sharp move carried the stock above resistance at $3.96.
Earlier in the month, China Marine Food Group announced plans to lead a government-sponsored research intended to develop consumer-ready seafood products from low-cost seafood items. The study, however, is not alone - perhaps not at all - the reason for today's gains. Today's rally is slightly indicative of company news that may have been leaked prematurely.
