Welcome back to another month of Stock Challenge, contestants!

With a monstrous return of 172.42%, first place member ‘Payton03tamu’ is already smoking this month’s Stock Challenge! His closest competitors, though, are still doing phenomenally well – member ‘Ryderzeke’ is in second place with a return of 92.44% while member ‘ODD MOOSE’ trails just behind in third with a return of 89.74%.

Week 1 Stock Challenge Stats

Stock Challenge Exchange Performances for June 5

With 108 TSX Venture listed companies in this month’s Stock Challenge (31.12% weighting), the TSX Venture is the most heavily weighted stock exchange in the challenge. Unfortunately, TSX Venture stocks are down -1.32% thus far in this month’s contest – tracking worse than the TSXV Index, which has fallen -0.4% over the past 5 days.

The best performing exchange this month (and also the second most heavily weighted with a weighting of 20.75%) is the Nasdaq – unsurprising considering it hit a new all-time high of 9,839.29 today.

Overall, every stock exchange featured in this month’s Stock Challenge is in the green with the exception of the TSX Venture and the American Stock Exchange, two of North America’s preeminent exchanges for early-stage companies.

Stock Challenge Index for June 5, 2020

According to our Stock Challenge Index (SCI), the average return for Stock Challengers right now is 2.18% — not bad considering the contest just started and the most heavily weighted exchange in the challenge, the TSX Venture, is underperforming!

J.C. Penney Breaks Out While FireFox Gold Breaks Down

J.C. Penney

J.C. Penney soared 54.76% from US$0.21 to US$0.32 today as sources say private equity firm Sycamore Partners is in talks to acquire the embattled department store chain.

The company provided an update on its store optimization strategy on Thursday.

Via J.C. Penney,

“Following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit for the Company, JCPenney identified the first phase of 154 store closures. Following entry of an order at the June 11, 2020, hearing with the U.S. Bankruptcy Court for the Southern District of Texas, in Corpus Christi, Texas, store closing sales will begin at 154 locations.”

FireFox Gold

As the price of gold declined from US$1,713.91 to US$ 1,683.86 today, Firefox Gold fell 17.39% from C$0.12 to C$0.10.

Last month, FireFox Gold announced it had amended property option agreements.

Via FireFox Gold,

“FireFox Gold Corp. is pleased to report that it has signed amendments to its property option agreements with Magnus Minerals Ltd., (“Magnus”) that defer and extend the schedule of both exploration obligations and cash payments. The amendments cover the Jeesiö, Riikonkoski, Ylöjärvi and Seuru properties, and include extensions to the schedules by up to one year from their original dates.”