Those who are currently on the lookout for penny stocks could do well to take a closer look at the Western Sierra Resource (OTCMKTS:WSRC) stock, which has gone on a highly impressive run over the course of the past week.
The rally in the stock continued on Thursday as the stock soared by another 101% and eventually took its gains over the past week to as much as 1000%. The stock had been trading at a fraction of a penny before it went on its wild run. The rally in the stock has been triggered after the company announced that it is going to pick up 70% of the common stock in Silver State Mining.
However, it is perhaps more important to keep in mind that Silver State Mining has a 49% interest in the Sage Han Mining claims located in Nevada. In addition to that, the assays have shown that the area contains palladium, gold, platinum, rhodium and silver. Western Sierra along with Silver State is going to set up a plan by way of which the two companies are going to mine 100 tons a day and eventually hit a target of 1100 tons a day. The Western Sierra stock has been trading up due to this development.
Market Reaction:
On Thursday, WSRC stock soared 102% to $0.2565 with more than 91.49 million shares, compared to its average volume of 5.90 million shares. The stock has moved within a range of $0.1065 – 0.3404 after opening the trade at $0.13. Over the past 52-week, the stock has been trading within a range of $0.0040 – 0.3404.
 Stock Extends Monster Rally: 10X in a Week){kind=link}