Microelectronics Technology Co (OTCMKTS:MELY) Drops On Record Volume

[[tagnumber 0]][[tagnumber 1]]Microelectronics Technology Co (OTCMKTS:MELY) isn’t an OTC stock that attracts a lot of investor interest. The daily percentile movements in price are usually very small and the dollar volumes stay below $10 thousand.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Meanwhile, the company stock has been the target of a paid promotional campaign that started on May 12. Back then a few outlets touted the ticker for a $11,500 compensation that was given by Emedia Advisors LLC. More recently the effort has been renewed by Micro–Cap Consultants LLC who received $15,000 from Freedom Ventures.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]There was no effect from the first round of promotional emails. Neither the price, nor the volumes changed. The second round of touting, however, managed to increase the volume. Unfortunately, the direction which [[tagnumber 10]]MELY [[tagnumber 11]]took was southern.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Despite the positive press release from Friday we saw [[tagnumber 10]]MELY [[tagnumber 11]]lose a hefty 45.65% of its value and finish the week with a price of $0.0025. A record 52.61 million shares changed their owners and generated $149 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]So far, we see that [[tagnumber 10]]MELY [[tagnumber 11]]has somewhat stabilized after the intense trading it endured in Friday and it’s even going in the green. The ticker is sitting 20% up as of the writing of this article, but that doesn’t mean that you should skip on doing your due diligence. After all, the numbers that [[tagnumber 10]]MELY [[tagnumber 11]]had to show in their most recent financial filing aren’t very impressive.[[tagnumber 2]]