E-Waste Systems, Inc. (OTCMKTS:EWSI) Takes The Market By Storm After Quarterly Results
Our latest article about E-Waste Systems, Inc. (OTCMKTS:EWSI) is dated from July 2012 and with a good reason. Back then the company was just another pennystock with shaky fundamentals, business plan still in development and numerous promotional campaigns. The only result that came out of all the touts was a dramatic decline in price per share dropping from above a dollar to less than 10 cents.
For more than a year since then EWSI has been quietly sliding further down reaching well into double zero territory. However that is no more and currently the stock is making a sharp climb up the chart boosted by its financial report for the second quarter of 2013.
It managed to attract so much attention that during yesterday’s session the record number of 11 million shares were traded. The ticker went as high as $0.08 but took a step back and closed at $0.06 making 35% in gains compared to the previous close. Such unprecedented enthusiasm was sparked by:
- $120 thousand cash
- $3.6 million total current assets
- $4 million total current liabilities
- $2.7 million revenues
- $150 thousand net loss
It seems that their electronic waste management services have been going on quite well. The company is on the verge of achieving profitability and the negative working capital is at a manageable levels. As we said ESWI has been keeping away from further involvement with pumpers which is always a positive sign. Last week they announced the public launch of their cloud-based technology of eWasteCC. Coupled with the recent memorandum of understanding with Reciclarg SA to be their lead partner in South America even better results are anticipated for the next quarter.
Still after such a sudden climb a pullback is more than likely if investors decide to take gains. Doing your due diligence and 
deciding on the appropriate time horizons for your investment is always necessary when dealing with pennystocks.
Yesterday Soul and Vibe Interactive Inc (OTCBB:SOULD) had a disastrous session. The ticker bombed losing 55% of its value and once again returned to price levels below a dollar despite the 3-for-1 reverse split done a week ago. On the other hand the massive promotion for Virtual Sourcing, Inc (OTCMKTS:PGCX) is finally starting to kick in and the company skyrocketed by 140% in a single day. Such a big spike in price is often followed by a correction so today’s market should be quite volatile.
