Wialan Technologies (OTCMKTS:ACYD) Fails To Recover
Ever since mid September the stock of Wialan Technologies (OTCMKTS:ACYD) has been on a remarkable uptrend. Starting from just above triple zero territory of $0.001 last week it managed to reach prices of above $0.08. But it seems that the ticker got too high too fast and has hit price levels that it cannot support resulting in four strait days of losses.
On Friday it looked that ACYD is going to make a comeback despite opening with a gap down at $0.047. In early trading it managed to claw its way back to $0.645 but at closing time it had slid to $0.053, or a 5% lower compared to the previous close. Traded volumes are also declining totaling 3.9 million shares, less than half of the average for the company.
Still the hype around ACYD is quite strong and a PR from the company might be just enough to push the stock upwards again. Investors are currently waiting for any information about the expected uplisting from the pink sheets and the removal of the OTC No information STOP sigh. But even more important is going to be the next financial report.
As we have said in our previous articles about the company Wialan have real operations and are generating revenues. The only problem is that we don’t know exactly how profitable they are. The goal of the management was a price per share of around 1 cent so even after the recent correction a market cap of $134 million might be a bit too much for them.
Just before the weekend the heavily pumped stock of Pan Global Corp. (OTCMKTS:PGLO) finally recovered after the three disastrous sessions. Still they are sitting at $0.319 which is lower than the pre-pump price per share. StockTips have also gone silent despite the massive compensation of $1.1 million with the latest email alert sent by them dated November 6. In the meantime First Liberty Power Corp (OTCMKTS:FLPC) might be approaching some rather unstable prices. The stock has been on an absolute tear this past few months and finished last week at a new high of $0.07 per share.
