Another penny stock that has been on a tearing run over the course of the past three weeks is Contango Oil & Gas Company (AMEX:MCF). We originally reported on the company in September, “5 Top Penny Stocks To Watch Before October 1.”
"During the course of the three weeks, the stock has gained in excess of 455%. This came after two key developments. Towards the end of September, the company announced that it had reached an agreement to buy the assets of White Star Petroleum. White Star had filed for bankruptcy and Contango decided to pounce."
Source: 3 Penny Stocks To Buy or Sell In October?
"During the course of the three weeks, the stock has gained in excess of 455%. This came after two key developments. Towards the end of September, the company announced that it had reached an agreement to buy the assets of White Star Petroleum. White Star had filed for bankruptcy and Contango decided to pounce."
Source: 3 Penny Stocks To Buy or Sell In October?