This week, Rainendown surged ahead of the competition to claim the first-place spot with a return of 171.75%. Everyone in the Top 3 right now has Sona Nanotech in their portfolio — not surprising considering that its stock price has almost tripled in little over a week. However, Sona isn’t the only thing that’s close to tripled since the beginning of the month… the Stock Challenge Index (SCI), which closed at +10% today, is now up 3x since the start of the contest! This is a night and day improvement over July 2019, considering that the SCI sat at -1.47% this time last year.
Blackrock Gold Breaks out While Northern Dynasty Minerals Breaks Down
Blackrock Gold jumped 16.85% from C$0.45 to C$0.52 today, trading over 1 million shares and setting a new 52-week high in the process. The company last announced in mid-June that it had received all remaining assays from its spring drill program and resumed exploration at its Silver Cloud project located on the Northern Nevada Rift in Elko County, Nevada.
Junior gold stocks like Blackrock Gold appear to be garnering heightened attention from speculative investors. In a recent article titled, “One Reason Miners Still Lag Surging Gold Price,” we wrote,
“Over the past few months, gold stocks have led the TSX Venture to some incredible gains. Fueled by unprecedented price action for the yellow metal, the TSX Venture has now almost doubled from its low of 338 in March to a high of 666 today.”
You can read our latest commentary on the gold sector here.
Northern Dynasty Minerals
Northern Dynasty Minerals suffered the biggest stock breakdown of the day, falling 22.41% from US$1.74 to US$1.35 after announcing it had increased its previously announced bought deal to US$30.7 million.
Where Will the July 2020 Stock Challenge Go Next?
Needless to say, Sona Nanotech has set the stage for an interesting competition. Although Rainendown is well-positioned to take first place this month, anything can happen in Stock Challenge — even up until the very last day!