Micro cap stocks can be quite volatile but at the same time there is always the possibility of outsized gains and hence there is considerable following for those stocks.
On Thursday, the ProText Mobility (OTCMKTS:TXTM) stock may have declined by as much as 21% but it should be noted that prior to that the stock had made a strong move up the charts and hence, it might be a good move to keep an eye on it. Prior to the fall yesterday, the ProText stock had made a scorching run up the charts and emerged as one of the micro cap stocks with the highest trading volumes.
The stock attracted plenty of new investors recently and more importantly, some of the biggest penny stock players in the market have also got involved. That is an indication of the sort of popularity that the ProText stock enjoyed in recent times.
On the other hand, it is also necessary to keep in mind that considerable accumulation is also taking place in the stock and that had also been one of the factors behind the rally. Now that the stock has declined, it remains to be seen if new investors flock to it or not.