China Integrated Energy, Inc. (OTCMKTS:CBEH) Jumps Up Before The Weekend
There are a lot of debates surrounding China Integrated Energy, Inc. (OTCMKTS:CBEH), mainly concerning the validity of their financial filings and the claims for company operations.
The company was once listed in the NASDAQ, however, after being halted for almost 2 months of trading in 2011 it returned, this time listed in the pink sheets, where it was welcomed with a significant drop in price.
There aren’t many news about the development of the operations coming from the company itself, but there are quite a lot of people talking about its stock. The movement before the weeked may be attributed to a review touting the stock and disputing the shorters’ claims from 2011 when NASDAQ halted CBEH.
The article caused an immediate interest in CBEH‘s stock, which was evident by the huge amount of traded shares, while the ticker was climbing in price. By the end of the day, the total gain in price was estimated at 46.55% on 7 times the stock’s average volume.
While the price was moving from $0.58 to $0.85 per share we saw a total of 448 thousand shares switching hands, which generated $321 thousand in dollar volume. However, will CBEH manage to reach above $3 per share, as the November 27 article suggested.
With the controversy surrounding the company’s operations and its banged up reputation, we reckon that a price over $3 might be a bit too high of a target. In fact, it is possible to see the correction by the end of today as CBEH‘s stock is already losing ground after it gapped down at $0.7225 and slid 23.53% from yesterday, currently priced at $0.65 per share.
After all it’s not a good thing to be filmed by the International Financial Research & Analysis (IFRA), as you put on a show for 20 investors in an otherwise idle biodiesel production plant that has been monitored over the course of 4 months.Also, it’s not good for your overall reputation to be delisted from NASDAQ for incorrect financial filings.
In any case, be sure to do a lot of due diligence and weigh out the risks if you have any thoughts of betting on CBEH.
Another company that made a big jump in the short Friday session was Adamis Pharmaceuticals Corp. (OTCMKTS:ADMP), who added 31% to their value. In an otherwise uneventful session Nutranomics, Inc. (OTCBB:NNRX) continued its slow climb with a 6.85% gain in price and $1 million in dollar volume.