This post was originally published on 5/6/2011:
Kiwibox.com Inc. (KIWB) – is a social community network based in NYC with some impressive Alexa statistics in foreign countries- we played this one initially with our members in chat on Wednesday but it appears we weren’t sure just what we had in our portfolio’s. After selling for a quick 10% gain, it has become evident to us that KIWB could be just getting started. We’ll be looking to buy shares underneath $0.04 and recommend our members do the same. If you’re still holding from our chat room alert on Wednesday, then lucky you! Here’s why we think KIWB could test and break psychological resistance at a nickel:
A news release from early March has a little piece of information the company left until the very last line of the PR:
“Kiwibox is on the way to complete its due diligence review of a targeted international social network and will soon end in contract negotiations. This potential acquisition will, if consummated, propel the Kiwibox.com network to a top tier social networking community.”
With the bullish price action on the chart since that press release, could it be that KIWB is close to completing such an acquisition? Clearly someone has been buying, and after searching on most every stock message board site we can hardly find anyone talking about KIWB. Seems a little strange given the steady accumulation of shares that has been going on the last few months and even longer. If KIWB sees increased volume and attention, we believe the stock could realistically make a 100% move from Thursdays close of $0.033.
We first spotted KIWB 3 weeks ago when it was trading around $0.03. We liked the stock due to the story outlined above and the accumulation we noticed on the chart. After quietly continuing its ascent higher over the last few weeks on relatively low volume, the stock saw some rather unusual activity today. The unusual activity we’re referring too is the 13 million shares that changed hands just under $.05 in two block trades of 7.5 million and 5.5 million shares each, respectively.
While we can’t be sure what this all means, we do know that that equates to over $500,000 in one single trade on a penny stock that hasn’t traded that much volume since our alert 3 weeks ago. Such activity often preludes large moves in a stock so it would not surprise us to see KIWB trade above $.10 in the coming days/weeks ahead.
KIWB is just another example of stockhaven.com members being the first to know about a stock that offers huge upside potential. Stay tuned for next week, as we have another pick that is similar to KIWB (they’re both in the social media sector) except it’s much cheaper
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