Fresh Start Private Management, Inc. (OTCMKTS:CEYY) Climbing on PR
Fresh Start Private Management, Inc. (OTCMKTS:CEYY) had an amazing week in which their stock climbed both in price and volume as a result from some optimistic press releases that the company issued.
At first, CEYY was touted by Small Cap Traders in a press release that was posted on November 5. The ticker was mentioned alongside some companies that are being traded on NASDAQ and NYSE, which we find intriguing considering the company’s financials.
- cash: $54 thousand
- total current assets: $1.8 million
- total assets: $5.8 million
- total current liabilities: $2.9 million
- revenues: $499 thousand
- net loss: $154 thousand
As you can see, despite the fact that the company has a lot in assets, 50% from it are from licensing agreements and the cash they have on hand is very little. Also, there is a really big number in the current liabilities section and we wonder how they got mentioned alongside NASDAQ and NYSE listed companies.
Nonetheless, the promotion and the optimistic press releases led CEYY to a terrific 210% gain over the course of just 4 trade sessions. When you put into consideration the pre-climb press release that announced a 62.5% reduction of executive salaries, there isn’t any reason why the ticker shouldn’t go up.
The stock gained a hefty 46% in Friday’s session alone, but the big increase in volume is disturbing. The 1.6 million shares that were traded in the last session before the weekend were the highest amount in more than 2 years of trading and generated $216 thousand in dollar volume.
This increasing attention in CEYY might mean that a serious correction is to be expected very soon. This is the exact reason for which we would advise you to do your due diligence and weigh out the risks if you have any thoughts of investing in this particular stock.
NanoTech Entertainment, Inc. (OTCMKTS:NTEK) on the other hand changed direction and also headed up before the weekend. Global Earth Energy, Inc. (OTCMKTS:GLER), however, were unlucky and their stock dropped 26% hardening their downward path.
