It's a great day for an awful lot of SCN members out there today - who either took a position in Cell MedX Corp. (OTCBB: CMXC) back when we first brought you the idea this year on March 1st - or took a position in iRobot Corporation (NASDAQ: IRBT) when John Monroe stepped into our free newsletter back on February 10th and gave everyone the idea in an effort to earn your subscription business.
Both ideas are up 27% and 15% respectively on the day. However, both are up roughly 100% since those dates I just mentioned above! Sure, we've all had our fair share of losers throughout our long investing lifetimes, but it's not too often someone can say they put two double baggers out there in just a few short months either.
It also goes to show precisely what we said yesterday with respect to playing contrarian in the right ideas, as both of these stocks were put out there in the face of some fairly ugly technicals.
Cell MedX Corp. (OTCBB: CMXC) was hanging around its 200 day moving average not doing much, and iRobot Corporation (NASDAQ: IRBT) had been taken out to the woodshed on what turned out to be its single lowest day ever since! Here's the charts below to prove it.
As for what happened with each idea today, Cell MedX Corp. announced the company's Canadian subsidiary has entered into a production agreement with an ISO 9001 certified manufacturing facility in Coquitlam, BC, and selected North American suppliers for sourcing essential components for its eBalance Pro device.
The move is intended to allow the company to facilitate its planned distribution under the current registration with the U.S. Food and Drug Administration while ensuring lower production costs and greater control of the manufacturing and distribution process. Furthermore, it will assist the company with setting up its standard operating procedures under ISO 13485-2016, a requirement by Health Canada to register the company's eBalance Pro device as Class II medical device.
Mr. McEnulty, the company's CEO, stated: "Our team is very excited to continue moving ahead with our strategic plan. The new relationships that we secured with both the manufacturing facility as well as with our new suppliers is the next essential step to bring our eBalance Pro device to market."
Although I don't think the news had as much to do with it as many might think, I still think it helped the stock's trading catalyst today, which clearly appears to be a bit of a short squeeze on tremendous buying volume - once again proving penny stocks can and will do things you definitely can't expect sometimes.
iRobot Corporation (NASDAQ: IRBT), on the other hand, posted a blowout quarter, something John Monroe at Elite Opportunity Pro has had a long history of predicting when it comes to identifying early stage growth stories. It's not always rosy, as clients of EOP got some bad news this morning too from Natus Medical Incorporated (BABY), which posted a miss, thus triggering a selloff in the stock of about 10%.
I say that because when you're in the right stocks you're still going to be wrong sometimes, but as long as you're willing to accept all of the realities associated with investing in equities, you'll quickly come to learn the team over at EOP is as good as it gets when it comes to honest reliable hard working guys with your best interest in mind - and they do provide investors with excellent returns in stocks over and over again.
I also pointed out today's loss in BABY because we want all of you to know we're among the few who don't hide when we're wrong about an idea. It's a fact of trading and/or investing that even the best are wrong from time-to-time.
The bottom line is if you're looking for excellent information on penny stocks that can potentially make you some great money, the SmallCap Network FREE site and newsletter here are among the best out there for timely and informative ideas.
If, however, you're looking for excellent Big Board and NASDAQ stocks with far more proven fundamentals - and deeply accurate technical analysis of the markets day in and day out - then Elite Opportunity Pro is the one service we believe you can trust to help build a portfolio you could potentially retire on someday. Just click the banner below. It's literally a two minute process.