Car Changing Group, Inc. (OTCMKTS:CCGI) Spikes Suddenly
Just when Car Changing Group, Inc. (OTCMKTS:CCGI) was about to form a dead cat bounce with its graph, the shares went wild on record buying volumes. CCGI grew on Monday by nearly 14% to $1.39, on dollar volumes of above $352,000. And with a new press release landing on Tuesday, the ticker may keep up the pace for a while. CCGI sank in mid-October as the 10-Q announcement turner out disappointing. 
Yet CCGI still holds promise, being of service to a growing industry. The company’s model is to install and support electric vehicle charging stations for the US market. A service rather away from the mainstream, this leaves CCGI with serious holes in its financials:
- cash: $165 thousand
- current assets: $1.1 million
- current liabilities: $8.9 million
- quarterly revenue: $77 thousand
- quarterly net loss: $5.6 million
- accumulated deficit: $26.8 million
CCGI is more and more weighed by debt and insufficient earnings, despite its promises that major car producers would be rolling out enough electric cars.
Now, CCGI attempts to garner attention with a new press release, stating that it would be following a joint marketing initiative with Good Earth Energy Conservation, a subsidiary of Numbeer, Inc. (OTCMKTS:NUMB). The two companies will jointly offer their products- charging stations and the Firefly electric three-wheel vehicle.
The big speculation around CCGI, which could bring a great upside to the stock price, is the idea that Tesla, Inc., the leading electric car company, may consider acquisitions of smaller firms. The downside is that like other electric car companies, CCGI
threatens to prove unsustainable.
Related to the car industry, World Moto, Inc. (OTCMKTS:FARE) was making the rounds on a recent spike. But the company shook down on a few days of selling, losing nearly a third of its value. Early Tuesday saw FARE spike upwards.
And Ecototality, Inc. (OTCMKTS:ECYT) did not live up to expectations. Back in August, the company was praised high, only to crash by nearly 80%.
Electronic cars is just another penny stock sector that may contain promise, yet in the shorter term delivers disappointment. It is best to avoid investing too much in CCGI, as the ticker has proven to be capable of deep slides, once the company shows its true face to investors.
