Hot Penny Stocks: VRNG, GV, RWC
Its been an exciting week for penny stocks, especially for Vringo (VRNG), Goldfield (GV), and RELM Wireless (RWC). Lets take a closer look at these three hot penny stocks
Vringo (VRNG)
What a week for Vringo!
The stocks up a whopping 80% for the week.
VRNG is a development stage company providing software platforms for mobile video applications and video ringtones. The companys primary product is the Vringo Video Ringtone Service platform, which allows users to create, download, and share mobile video entertainment content.
So why are the shares soaring?
Basically, an article published on technology news website TechCrunch argues that Vringo could gain billions of dollars in a patent suit against Google (GOOG).
The patent suit claims Google has infringed on VRNGs patents for sorting ads based on click-throughs a vital component of Googles business. Clearly, this would be a huge deal.
However, keep in mind, most of these lawsuits never see the light of day. Keep an eye on Vringo just dont expect it to be the next Google.
Goldfield (GV)
It’s been a great week so far for GV investors.
Shares in the heavy construction company are up a stellar 79% so far, and an incredible 380% year to date.
GV engages in the electrical construction and real estate development business in the US. The company’s business includes construction of transmission lines, concrete foundations, distribution systems, and other electrical installation services.
So what’s the good news?
In a nutshell, solid earnings.
Goldfields fourth quarter revenue rose 31% to $11.4 million. Whats more, EPS came in at $0.06 per share a solid increase over last years $0.01 per share.
With numbers like those, its no wonder investors cant buy the shares fast enough.
RELM Wireless (RWC)
RWC develops wireless communications products for government and public safety, and business and industrial markets. The company offers land-mobile radio equipment for professional radio users primarily in government and public safety applications.
So far this week, the stocks up 37%.
Whats going on?
RWC was recently named a supplier under the $3 billion tactical communications contract issued by the US Department of Homeland Security.
The contract includes the procurement of digital two-way radios and related equipment, which is where RELM Wireless comes in. Moreover, RWC is one of just three companies in the contract designated as a small business supplier.
Needless to say, this could be a huge deal for the company. Its worth adding RWC to your watch list.
Yours in profit,
Gordon Lewis
Category: Hot Penny Stocks
