PPWE - Proper Power and Energy has surged in Monday's trading, up 91% going into the closing bell. PPWE opened this morning at .0065 (52 week low) and reached a high of .016 as traders poured on way above the average daily volume (156,015) of almost 1.5 million shares. Although there has not been any news out of the company for the last couple of weeks of importance, some penny stock traders clearly think otherwise as evident by the volume and share price gain. This could even be a speculation-sympathy play because of recent oil prices.
Proper Power and Energy is a oil and gas exploration and production company based out of Tampa, Fl. The stock had been in a slow decline for the last three months until today. PPWE has a 52 week high of .28 reached in May of last year. Traders may want to watch PPWE and see if the momentum continues flowing into this hot sector stock.
4/25/2011
