AllPennyStocks.com This Micro Cap Is Off To The Races
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This Micro Cap Is Off To The Races

This Micro Cap Is Off To The Races By: Tomas Ronolski - AllPennyStocks.com News

Monday, November 16, 2020

While we typically don’t discuss earnings announcements on micro cap companies very often in these pieces, however today is an exception. In an industry that hasn’t been talked about in a positive way since the beginning of Covid-19, this small diving and boating company is up big in mid-morning trade. 

Brownie’s Marine Group Inc. (OTCQB:BWMG) popped after it announced a 98.6% increase in net revenues for the fiscal third quarter of 2020. In addition, adjusted net income was $309,200 versus -$113,000 in the same period last year. This news was a breath of fresh air as it made traders eager to get their hands on shares of this Florida-based company. Shares traded as high as $.0269/share (+34.5%), which produced a nice breakout to the upside of a multi-month trading range near 52-week lows. This move also crossed over the 100-day SMA, which may be an indication of things to come. 


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