IDOI Security Penny Stock Maybe Close to a Move

idoi20090716

I have been watching this sub penny stock over the last few days and I thought I would give it a quick mention.  IDOI has a product which scans peoples shoes for explosives or other devices deemed a security risk by the Department of Homeland Security. 

This companies claim to fame is Obama’s quote some time ago where he said, “You will not have to take off your shoes”.  Of course he was talking about the airport security process and the royal pain in the butt it is to have to take your shoes off before going on a flight because normal airport scanning tools cannot detect through shoes.

The problem with this company is the huge total number of outstanding shares, I think close to 1 billion. But does a 1 billion total outstanding shares mean that this stock cannot rally above .003 for a break out to .006 ? Well, not necessarily.  I have seen plenty of sub penny stocks have significant breakouts.  In fact GSPG comes to mind, the gold penny stock that I believe had a total outstanding of close to 3 billion? I could be wrong about that, but that stock ended up going to 4 pennies.

So we will have to see, but I like the volume accumulation. lets see if we can get a rally above .003 in breakout territory.

Posted in Penny Stocks, Sub Penny Stocks
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  1. […] another penny stock we first mentioned here on 7/16/09 is up 117% since our first mention.  Overall I am noticed a very active penny […]

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