Technoconcepts, Inc. (OTCMKTS:TCPS) With a Huge Gain After 4 Days in The Red
Technoconcepts, Inc. (OTCMKTS:TCPS) is a strange company that we might say is on its death bed, even though they livened up in the end of May. They just seem to be dying with a last wish. How long will they keep moving through the charts with such volumes is yet unknown, but one is for sure: They can fail at any time.
After a long month of going down the charts that followed their rapid ascent from the end of May TCPS have registered a big jump in Friday’s trade session. The stock started jumping up the charts back on May 16 and continued to do so until May 31 registering only 1 session in the red. In that short period of time TCPS‘s stock gained a whopping 18666% in price going from $0.0003 to $0.056 which was their peak as of May 30.
However, it quickly started to deflate and had mainly sessions ending up in the red over the course of the next month and went as low as $0.0076 in the July 18 trade session, which is roughly 87% down from their high of May 30. The final day of the week, however, had a surprise for investors as the stock burst a mind-blowing 293% up the charts and lifted itself from $0.0076 to $0.0299.
This happened on a volume that was quite bigger than their average of 2.6 million shares with the total count of shares that switched hands coming to 16 million. At first trading was going slow, but as soon as the price started going up a flurry of trades took place. This happened after 12:00 PM had passed and trading continued in a similar manner for the rest of the day making the total trade value for the day come at $375 thousand.
Trading today started off on a bad foot for TCPS‘s price as they are already 12% down the charts, currently being traded at $0.0262. A massive dumping is underway as the share count in just 1 hour of trading has hit 3.95 million shares and we reckon that the rest of the day is going to go accordingly to that movement. The trade value that this dumping has so far generated is around $111 thousand.
The fact that TCPS haven’t filed any sort of reports from last month when they were delisted with the SEC speaks for itself. The last report that they had filed dates back to 2008 and even thought they are supposedly reporting under the Alternative Reporting Standard in the OTC Markets there are no visible reports. Furthermore, they don’t have any website and all in all it seems like they are nothing more than a shell that was brought to life with a pump campaign.
TCPS is probably one of the riskiest stocks out there so be sure to do your due diligence if the information contained in this article hasn’t convinced you to stay away from them.
On the other hand we have the business of InVivo Therapeutics Holdings Corp. (OTCBB:NVIV), who have a decent amount of cash and are currently climbing the charts with a price of $5.74 per share. Another more respectable company in the OTC Markets is Affymax, Inc. (OTCMKTS:AFFY) who are managing to stay level even though they are considered a shell after the voluntary recall of their drug Omontys. For the moment they are keeping above $1 with a current price of $1.12.
