One long-time member and past Stock Challenge Champ is mounting one heck of a comeback in June. Last week the faithful member and always competitive ‘mountaineer78’ rocketed into the lead after his selection of Sphere 3D jumped 58% in one day. Yet, as is often the case with small-cap tech stocks, its shares declined precipitously soon after.
On June 22nd in Sphere 3D Explodes 58% on 60 million shares traded, we wrote,
“Sphere has had setbacks and delays, depending on how you look at it; however, the company continues to advance its suite of products. On June 14th, Sphere 3D announced it had launched its HVE NVMe appliances.”
Sphere 3D Chart Something to Behold
Sphere’s share price has been a roller-coaster most of the past 5 years. The drops have certainly outweighed the climbs, much to the chagrin of patient shareholders. With limited institutional backing, Sphere is a speculators paradise.
Sphere 3D Chart – 5 Year
mountaineer78 shines with Sphere 3D Selection
Member ‘mountaineer78‘ is the lone competitor in June’s Stock Challenge who selected Sphere. With 30 minutes left in trading Monday, his daily return had improved by 10.40%. Because, Sphere 3D was back in the green, trading up 23.98% on big volume prior to the close. Consequently, mountaineer78 moved back into 1st place with a 52.26% combined average return.
tjfeld is still in the hunt and his selection of Mogo Finance is not going away. We wrote about Mogo in Mogo Finance Leading Canada’s Mobile Cashless Society.
The TSX Venture is having a month it would like to forget. The junior resource and tech exchange hit a high of 805.89 and has been grinding lower ever since. The exchange was down nearly 1% Monday to 771.84, after hitting a low of 767.58 last week.
The VanEck Vectors Junior Gold Miners or GDXJ ETF was down over 1% to $33.81 with a few minutes left in trading Monday. Gold was leading the mining players lower as the precious metal slumped more than $12 to $1,243 an ounce.
