Alliance Creative Group, Inc. (OTCMKTS:ACGX) Surges on Zero News
Yesterday the stock of Alliance Creative Group, Inc. (OTCMKTS:ACGX) revved it up out of the blue and closed the session over 400% up. This may sound like an amazing accomplishment but the price range in which ACGX moved makes it seem a little less thrilling, as the ticker stopped at $0.004.
There have been no recent news from the company, with their latest press release dating back to mid-August. There are no detectable current pumps targeting ACGX either and the movement doesn’t seem to be induced by stock promotions.
What is still curious is the share volume reported. ACGX seems to have shifted over 315 million shares in yesterday’s session and the company had 290 million outstanding shares as of October 2 according to OTCMarkets.
Traders on discussion boards appear equally confused about the sudden jump in both price and volume but there are no reports about promotional materials for the ticker among them either. ACGX is a printing, packaging and marketing company operating out of Illinois. Unlike many other OTC-listed stocks that trade at fractions of a cent, ACGX is actually a company that is generating revenues in seven-digit numbers. Here is what their latest quarterly listed for the period ended June 2013:
- $3.6 million in current assets
- $1.9 million in current liabilities
- $2.3 million in quarterly revenues
- $74 thousand in net loss
The numbers are certainly far from dire but the company’s gradually shrinking revenues led to Q2 of this year ultimately ending in net loss, after ACGX logged humble net profit over 2012 and the first quarter of this year.
It’s worth mentioning that the last time ACGX ran in early August, the spike was followed by stock promo emails and the outcome was swift and unpleasant, so traders may want to watch out.
The price is zigzagging its way along today’s chart but is still 6% in the green.
Other big movers from Tuesday’s OTC session include Allerayde SAB, Inc. (OTCMKTS:ASAB) who dropped 16% in the wake of a pump. 3D Eye Solutions, Inc. (OTCMKTS:TDEY) retreated 11% to a close of $0.016 per share.
