Well Power Inc. (OTCBB:WPWR) Bounces Nicely
On Monday Well Power Inc. (OTCBB:WPWR) was officially confirmed as Stock Tips’ new pick and this had a tremendous effect on the market. In just six and a half hours, the ticker managed to jump from just $0.05 all the way to $0.32. All this while racking up nearly $10 million in dollar volume.
On Tuesday, things were quite a bit calmer. At $3.68 million, the trade value was still quite substantial, but it was nowhere near as huge as the one from Day 1. WPWR did manage another 7% climb, but it seemed like momentum was starting to die down.
Sure enough, on Wednesday, the ticker experienced its first correction since the start of the promotion. As we mentioned in our previous article, it opened the session on the wrong foot and although it did manage to claw back some of the lost ground, it still finished the day around 3% in the red. Some people were starting to get concerned about their investments, but yesterday, WPWR showed that it can still run in the right direction. It bounced by nearly 18% and closed the session at $0.40 per share while shifting more than $1.76 million worth of stock. Everyone is wondering if it is now able to finish the first week of the pump on a positive note.
It seems that it is. About half an hour after today’s opening bell, it’s managing to hang on to $0.41 while the number of traded shares is challenging the 400 thousand mark. That’s not so bad, but we’re quite sure that a lot of people were expecting more excitement.
Today should have been a more explosive day not least because the company tried to create some excitement. WPWR issued its first press release since the start of the promotion and it states that they have a new Director. Mr. Dan Patience has joined the management team and, apparently, his experience will help the company progress further. He has been involved with numerous other public and private companies and he also serves as a president of Noble Investment Corp – a provider of investment banking and investor relations services. By all means, Mr. Patience seems to be a really valuable addition to the management team. So, why is the stock reluctant to make some big movements up?
Neither the press release, nor the 8-K form tell us anything about Mr. Patience’s skills as a magician, but we reckon that if he is to turn the no-assets WPWR into a solid enterprise, he’ll need to be very good with the magic wand. No matter how promising the PR’s sound, at the end of the day, it will be the company’s business operations that will decide the ticker’s faith in the long run and, as we mentioned in our previous articles, at this point, things are not looking good.
It wouldn’t have been so bad if it wasn’t for the $4.1 million pump job but with it, the risks are even higher. In our previous coverage, we mentioned how badly wrong Stock Tips’ previous campaigns ended and at this point, there’s absolutely nothing to stop WPWR from following in Tiger Oil and Energy Inc (OTCMKTS:TGRO)’s, Pan Global Corp (OTCMKTS:PGLO)’s, and Amarium Technologies Inc. (OTCMKTS:AMMG)’s footsteps.
Some of you might argue that the aforementioned pumps lasted for weeks and even months and you’d be right. Even so, no one can say for sure when the drop will come. Treading extremely carefully is, as always, absolutely essential.
