February was one of the best months in years in respect to the combined group average return of all participating members in a monthly Stock Challenge.
The strong returns were, in large part, due to a rising TSX Venture which added over 30 points to its total from the beginning of the month (up roughly 5% in February).
Junex stole the show on the TSX Venture in February
A previously little known Quebec-based oil and gas company, Junex (JNX:TSXV), stole the show down the stretch of February’s Stock Challenge. While the company was a non-issue for the majority of the Challenge, it sent two members in the contest on a wild ride in the final 72 hours of February trading.
While Junex’s rise started off quietly, the stock went parabolic with less than 72 hours remaining in February’s Stock Challenge. Investors gobbled up millions of shares in the oil and gas stock as they attempted to revalue the company following recent flow test results.
Junex closed at $0.54 per share on January 30th, down 6.9%, after trading an unassuming 51,294 shares.
Two trading days later, Junex exploded 40% on 1.1 million shares in volume and closed at $0.83 per share.
It then traded down slightly for two weeks. But on February 23rd it jumped 17%. Then another 17% the next day, and 31% on the 25th.
The following day, February 26th, is when Junex’s stock went parabolic, trading to an all-time high of $2.02 before crashing down to $1.46 at the close on 3.8 million shares traded.
Junex only closed in negative territory 4 times during the entire month.
The news that propelled Junex and resulted in more than 10 million shares trading hands in the final 5 trading days of the month came the morning of February 23rd. The oil & gas junior announced that it had recorded a steady rate of 316 barrels of oil per day in its Galt No. 4 Horizontal Well.
After nearly quadrupling in value from the beginning of the month to its eventual high on Wednesday, Junex simply could not hold onto its parabolic gains. The stock finished the month at $1.34, almost $0.70 below its high.
Pinnacle members ‘joeyg48‘ and past Stock Challenge Champ ‘challengerguy70‘ rode Junex to incredible heights, but ultimately fell just short of the victory.
joeyg48, with his second place finish and 75.59% combined average return for February, will be sharing the People’s Champ award with 3rd place finisher challengerguy70 and his 74.08% combined average return.
The People’s Champ is a selective award associated with Pinnacle’s Stock Challenge, and is given to the participant who failed to win, but nonetheless made a name for himself. It comes with no prizes and unfortunately, no glory.
Despite challengerguy70 and joeyg48’s stellar performances, Pinnacle member ‘Lane4‘ emerged as the one true champion.
Lane4’s combined average return on the month was a stunning 76.33%, less than 1% higher than joeyg48. After cruising into triple digit territory by mid-month, it looked all but sealed up for the Richmond native; but, as is often the case in our Stock Challenge, his initial gains began to fade while the two members who selected Junex rallied to take the lead. In the end, however, his selection of Rare Element Resources and its one month increase of 158% was enough to hold on.
DSCAROKNIGHT was the runner up to this month’s People’s Champ award! His 65.78% combined average return in this market is not too shabby and would have been enough to win the Challenge in many recent months.
Past Stock Challenge Champ and long-time member ‘Shadow Trader‘ put up a noteworthy 50.54%combined average – that was good enough for 5th place.
February’s Stock Challenge Top 10
Our champion receives the winner’s only Pinnacle Package – which includes the finest of garments fit for a champion: The Stock Challenge Champ Hoodie and a Pinnacle Digest dri-fit golf shirt (for those afternoons on the links). Wear them with pride Lane4!
Member Lane4 will also receive a Northwest Territorial Mint 10 ounce Silver Bar.
Congratulations to our new champion and welcome to the Stock Stars Hall of Fame! We look forward to watching you compete in future contests!
Good luck to everyone in March’s Stock Challenge, which begins on Monday.
Pinnacle Digest
February’s Stock Challenge Statistics:
Challengers: 220
Highest Return: 76.33%
Lowest Return: – 33.18%
Average Return: 7.49%
Previous Champs in the Top Twenty: 5
