Financial News by the People, For the People

Penny Stocks To Watch This Week – CCAJ Merger?

Aiming to complete mergers and acquisitions, Coastal Capital Acquisition Corp. (OTC: CCAJ) has been on investors’ radars since its CE removal last August. In fact, traders who got in early made major gains in the 332% runup. CCAJ was up again following an announcement on December 21st which pushed the stock up 96% in anticipation of its new website. With that in mind, many investors have been loading CCAJ as they wait for its management to disclose the company’s plans and merger candidates – putting this stock on many investors’ list of penny stocks to watch this week.

CCAJ Stock News

Early investors patiently waited for CCAJ’s resurrection after 12 years of inactivity and are waiting a little longer as the company prepares its new website. As an acquisition corporation, CCAJ was formed for the single purpose of effecting a merger or other business combination with one or more businesses. So far, the company has not found a business target or entered into any substantive business discussions, however, CCAJ is not limiting itself to any particular industry or geographic region when assessing its acquisition candidates.

At this time, CCAJ believes it can positively contribute to companies looking to expand or become publicly listed. With the ability to complete a merger, acquisition, or fractional acquisitions, CCAJ is positioned to bring value to its shareholders following the expensive process of becoming compliant with the OTC Markets.

Currently, CCAJ’s CEO – Anthony DiNorcia – owns 26.75% of the common stock shares which is a bullish sign, however many investors are speculating that its possible merger candidate may be related to the biotech or pharma industries.

This is likely due to the recent appointment of Barry A. Ginsberg as a consultant. Ginsberg is an advisor to executives using his expertise in the pharmaceuticals and medical-products sector. He has also acted as a consultant and strategist for healthcare companies. Although CCAJ could be venturing into the lucrative industries of health science, information technology, film, or real estate, its management has yet to confirm its new direction.

Investors are also bullish on CCAJ’s Chief of Investor Relations – Paul Jackson – who will likely position CCAJ to generate value for its shareholders. Given his 15 years of experience as a financial consultant in the areas of corporate finance and business development, Jackson is an ideal addition to CCAJ’s management team.

While working for Merrill Lynch Investments in Los Angeles, he specialized in high net worth asset management and in-depth research of corporate bonds. At Prudential Securities he worked in asset management, reverse mergers, private placements, royalty financing, and entertainment financing. Paul then worked as an independent financial consultant before becoming the Chief Institutional Officer at Royal Bank and Private Trust where he created new strategic institutional partnerships and managed existing institutional relationships.

Given that CCAJ is a clean shell with no history of dilution, the company is well-positioned for a successful merger in any of its target industries. While CCAJ’s management has remained silent throughout the process so far, investors are anticipating an update from its management very soon. With that in mind, the stock could easily move thanks to its relatively low float of 593 million.

Media Sentiment

Investors like @MattRiv2 have remained bullish on CCAJ despite delays in updating its website. Considering its attractive share structure, CCAJ could move quickly with PR – making it one of the penny stocks to watch this week.

Technical Analysis

penny stocks to watch this week CCAJ chart

Currently, CCAJ is trading at $.0097 with primary support at .0085 and secondary support at .0064. Its spike on December 21st formed a new resistance at .0146 but the RSI has cooled at 48 while accumulation remains consistent. The MACD appears poised for a bullish crossover as well.

With the anticipation of merger news building, CCAJ is seeing an increase in accumulation that could push the stock above a penny this month. While the company has not confirmed its merger or acquisition plans, they appear to be on the horizon and could push the stock past its resistance at .0146 and towards October’s highs of two cents. This means CCAJ could be one of the penny stocks to watch this week for updates.

CCAJ Stock Forecast

With a low float and a market cap below $10 million, a merger could be the catalyst to send CCAJ running. Currently, the stock has garnered interest from investors thanks to its history of running on catalysts. But once it begins its operations, the company could add significant value through acquisitions which might make it one of the penny stocks to watch for merger news that may send it over a penny or more.

If you have questions about CCAJ stock and where it could be heading next feel free to reach out to us in our free alerts room!


Please visit and read our disclaimer here.

Everything Else…

Share this article
Shareable URL
Prev Post

Stocks Under $5… But Not For Long

Next Post

Penny List Stocks – Torque Lifestyle Brands

Leave a Reply

Your email address will not be published. Required fields are marked *

Read next