3 Penny Stocks Making Big Moves

SEII shares are soaring on a new AI deal

by Karee Venema

Published on Jan 24, 2018 at 3:24 PM
Updated on Jan 24, 2018 at 3:44 PM

The U.S. stock market has retreated from the record highs it set earlier, as tech stocks slide. Among individual equities on the move are electronics manufacturing specialist Cemtrex Inc (NASDAQ:CETX), fabric dyeing firm Sharing Economy International Inc (NASDAQ:SEII), and semiconductor stock Sigma Designs Inc (NASDAQ:SIGM). Here's a quick look at how shares of CETX, SEII, and SIGM are trading today.

Cemtrex Stock Gaps Higher on Blockchain Buzz

Cemtrex stock was up nearly 27% at its intraday peak, after the tech firm said its has teamed up with Lucyd to develop augmented reality solutions for the blockchain-based smartglass manufacturer. While CETX has since pared its lead to 7.2% to trade at $3.02 -- with the earlier rally stalling at familiar resistance from the equity's 200-day moving average -- it's still on track for its highest close since late September.

SEII Stock Barrels Toward Oversold Territory

Studio Ltd, a subsidiary of Sharing Economy International, announced a partnership with Asiabots Ltd. to jointly create artificial intelligence (AI) and online to offline (O2O) technology. In reaction, SEII plunged 6.2% in early trading, but was last seen down 1.8% at $4.95. The shares are now on pace for a sixth straight loss -- its longest losing streak since May -- and have brought their year-to-date deficit to 34.4%.

Despite this steady selling, SEII shares have not yet reached oversold territory -- though they're quickly approaching. At last check, the stock's 14-day Relative Strength Index (RSI) was docked at 32.6.

Sigma Designs Stock Plunges After Silicon Labs Takeover Twist

Sigma Designs stock was down more than 17% earlier, after the company said it was only selling its Z-Wave technology business to Silicon Laboratories (SLAB) -- versus the latter's outright takeover of the former. More recently, SIGM shares were trading off 15% at $5.95.

After the initial buyout buzz sent the the security gapping higher in early December, SIGM had been stuck trading just below Silicon Labs $7.05 per share purchase price. The stock is on track for its lowest closing price since Dec. 7, and is now down 6.2% year-over-year.

 

SAGE Therapeutics Stock Hot Ahead of Earnings
The drug name is scheduled to report on Tuesday
Bear Signal Flashing for This Healthcare Stock Before Earnings
At least four analysts have issued price-target cuts on the stock this week
Signal Says This Retail Stock's on Sale
The shares pulled back this week on news of a Levi Strauss IPO
START YOUR DAY SMARTER.

Get Schaeffer's pre-market news bulletin every morning before the bell rings.
It's free to sign up.


Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


How to Predict Volatility Based on Earnings
A free tool can help traders bank big during the upcoming earnings season.
3 of Today's Worst Nasdaq Stocks
The stocks are sitting out today's rally in the broader equities market
2019 Rally Continues for Stock Market
The Nasdaq is eyeing its longest weekly win streak since 2016
How to Predict Volatility Based on Earnings
A free tool can help traders bank big during the upcoming earnings season.