Penny stocks can be volatile, and if the activity of Cornerstone Metals (TSXV:CCC) today doesn’t prove that then nothing else will.
Vanadium Penny Stocks: Cornerstone Metals
Yesterday, when looking at vanadium penny stocks, one saw Largo Resources in the green, trading up near 5% at one point in the session. Today, these mining penny stocks are looking a bit different. Today, there is no green. Especially not for Cornerstone Metals, a stock currently down nearly 2%.
But on any other day, this wouldn’t overly concern investors (though it may cause some of them to check in on the stock periodically) as penny stocks are known for having bad days. However, it’s a different story with Cornerstone Metals this week.
Why? Well, because the Vancouver, BC-based company recently (as in two days ago) made a solid announcement regarding its Carlin Vanadium Project, and the stock is still down.
Carlin Vanadium Project: August Update
On Wednesday, August 15, Cornerstone Metals disclosed to the masses that the Phase 2 drilling program has commenced at the Carlin Vanadium Project in Nevada.
This is huge news, as it means the project is chugging along, hitting targets, and not running into roadblocks.
Regardless, the penny stock doesn’t seem to be benefiting as one would have imagined.
The Cornerstone Metals Stock
Mentioned earlier in this article, penny stocks can be volatile and Cornerstone Metals proves that. This was said because, despite Cornerstone reporting good news, the stock has still dropped on the market.
In simple terms, even the best of news can’t keep these stocks out of the red zone.
As of 12:10 p.m. EDT, Cornerstone Metals is trading at $1.30, which puts the CCC stock down 1.52%.
The Takeaway
Why do you think the Cornerstone Metals stock is on the verge of ending the trading week in the red?
Do you think it’s for an alternative reason other than that’s just how these stocks – regardless of whether its vanadium penny stocks or other mining penny stocks – work?
Featured Image: Twitter
