We’re only halfway through the first week of this month’s Stock Challenge, but things are beginning to heat up! Our current first place contestant ‘avispa’ shows no sign of slowing down; with a return of 77.19% now, avispa is up almost another 25% compared to yesterday. Meanwhile, member ‘Mario Lefebvre’ has climbed to second place (22.44% return) just ahead of our new third place member ‘Kurt Schultz’ (22.07% return). Yesterday’s second place member ‘Bashton’ may have fallen from the Top 3 for now, but there’s still more than enough time left in this month’s Stock Challenge for him to bounce back!
Gold Companies Lift Stock Challengers Higher
“. . . most central banks around the world have been moving towards a much more accommodative monetary policy as they lower interest rates and make cheap money more available. It is also believed that there is a high probability that the Federal Reserve will initiate additional rate cuts beginning in September and possibly another rate cut in December. This sets the stage for global quantitative easing, and as such will be highly supportive of bullish market sentiment for gold and silver.”
Bravada Gold Breaks Out While Athenex Breaks Down
Bravada Gold Corporation, an exploration company with a portfolio of high-quality properties in Nevada, rose 28.00% today from C$0.13 to C$0.16. The company most recently announced that it had closed its oversubscribed equity financing.
Via Bravada Gold,
“. . . it [Bravada Gold Corporation] has closed the final tranche of its previously announced non-brokered private placement for total gross proceeds from all tranches of $900,000 through the issuance of 12,857,142 units of the Company at a price of $0.07 per unit.”
Athenex Inc., a global biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer, fell 20.23% from C$18.98 to C$15.14 after reporting a quarterly loss of C$0.44 per share today.