As expected, shares of GWBU have dropped significantly from the highs near $2 at the height of the AwesomePennyStocks (APS) promotion. If you look through my previous articles on GWBU I have been predicting the crash and drop to a nickel since the day that APS announced it.
It is easy to predict where an APS pick will go; one only has to look as far as their previous 2 picks to GWBU; NSRS and SNPK (both trading under a nickel) to know where GWBU would end up.
Yesterday GWBU hit an all time low of $0.052 in the morning and then quickly bounced and started moving up on fairly large volume. We suspect this could be the start of a decent intra-day bounce that could easily take the stock back over the $0.15 level.
One has to keep in mind that GWBU dropped from near $2 to $0.05 in less than a Month; stocks that drop this quickly, even heavily promoted stocks tend to have significant bounces initiated by short covering and continued promotion.
Both SNPK and NSRS had 100% + bounces from their all time lows long after their big runs and I suspect GWBU will do the same. It is being promoted here by a number of 3rd party websites all saying it's come back time for GWBU. This may give some hope to the unlucky investors who bought into GWBU at the height of the APS promotion over $1.50 who are now down big.
Judging by the trading of previous APS picks I do not see the GWBU bounce lasting for long. In fact I see it as a short and quick exit opportunity to get at least some value out. Volume is excellent and there is a significant short position that needs to cover so the chances of continued intra-day upside are very good here. However I do not see it lasting for more than 1 or 2 days. It's not come back time for GWBU, it's the final cough before it drifts to under a nickel and slowly loses its liquidity.
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.