Penny Stock Shares Swing to Loss; Micro Imaging Review
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    3 Top Penny Stocks Investors are Watching

    3 Top Penny Stocks Investors are Watching

    Shares of Location Based Technologies Inc. (OTC: LBAS) are soaring in today’s trading. At last check, the penny stock was trading 9.88% higher at $1.09, with volume up from daily average of 904,851 to 1.84 million. The stock gained 41.21% in the last three trading sessions.

    In the last three months, Location Based shares gained 609.68%. Year-to-date the stock gained 633.33%.

    Late last month, Location Based announced the completion of a private placement of 50 million shares of its common stock. The company plans to use the proceeds from the private placement to fund its growth opportunities going forward.

    Location Based is a designer and developer of leading-edge personal locator GPS devices and services.

    Shares of Micro Imaging Technology Inc. (PINK: MMTC) are down sharply in today’s trading. At last check, the penny stock was trading 7.91% lower at $0.0128, with volume up from daily average of 29.27 million to 43.52 million. Despite the decline in today’s trading, the penny gained 9.4% in the last three trading sessions.

    In the last three months, Micro Imaging shares gained 326.67%. Year-to-date the stock is up 75.34%.

    Recently, Micro Imaging entered into a strategic alliance with EPIC Corporation (EPOR.PK). Under the alliance, the company will receive equity investment from EPIC. The company’s products will be also distributed by EPIC.

    Micro Imaging is the developer of a rapid microbial identification system.

    Shares of Sino-Forest Corporation (PINK: SNOFF) are climbing in today’s trading. At last check, the penny stock was trading 4.40% higher at $7.03, with volume at 217,260. In the last three trading sessions the stock gained 8.99%.

    Sino-Forest shares are down 64.49% in the last three months. Year-to-date the stock fell 69.89%.

    The sharp decline in Sino-Forest shares in the last few months has been due to a research report published by Muddy Waters on June 1. In the report, Muddy Waters alleged that Sino Forest overstated its plantation assets in China.

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