LEXG - Now Up Well Over 3,000% at $4.02 Since I Covered On My Blog At $.12

I provided the very first commentary about LEXG on March 22nd.  Absolutely no one else was talking about it, or even knew the stock existed.  And for good reason.  Prior to March 22nd, LEXG for all intents and purposes was dead.  Since then the stock has soared and become one of the most popular penny stocks out there.  Actually the stock is less than a $1 away from losing its penny stock status.   I was the very first person to catch on to this stock, way before the crowd.

The chart is a site to behold and is exactly why people trade penny stocks.  The stock traded over $37 million today, more than Nestle traded, which was the runner up in money volume.  Simply amazing to put NESTLE, a $200+ billion market cap company in the same post as LEXG.  NESTLE, ticker NSRGY, has revenue of over $100 billion almost $20 billion cash on hand.  LEXG per its last filing has ZERO cash on hand.  Obviously that is likely to change as the chances of  selling into this run are beyond great, but I am just going by the latest filings.   Care to take a stab at the value of  LEXG's latest assets?  ZERO.  Yes  LEXG assets = $0.000.  and Liabilities of roughly $139k, with a market cap of $185 million, that's an equation that just doesn't seem to work.  0 + 0 - 135,000 = $185 MILLION?  I must be missing something.

Today LEXG traded over $37 million worth of stock.  What does this all tell you?  Money flow trumps everything in this market and the money has been flowing into LEXG in spectacular fashion.  The problem occurs when this money flow stops, or abates.  While everyone is buying hand over fist when the chart is going up, the downside could be quite nasty once the buying stops.

Just consider this stock the adult version of musical chairs.  Right now everyone is dancing, having a great time, and making a lot of money.  But once that music stops don't be the one without a chair.

Today LEXG closed at $4.04.  I think it has a good chance of heading back to $1.50 within the next week.  Just my very humble opinion.  I hope for everyone who is long this stock, it goes to $10-$20 or whatever the newsletters are telling you its supposed to go to.  I think the trading today you saw the first few cracks in the hull, with the stock opening much lower.  Sure it rebounded, but maybe it won't the next time.

Also OTCMarkets has LEXG as caveat emptor.  Very unusual for an SEC reporter to get that status changed considering they are current with their filing obligations. 

Just in case your wondering who is selling when/if the stock starts to fall, look no further than the March 22nd trades I brought to light, the very next day the stock took off and has yet to look back: