Will Olie Inc (OTCBB:OLIE) Continue Its Upward Run
After Olie Inc (OTCBB:OLIE)’s stock jumped a whopping 2233% in the first trading sessions of this week, we saw the stock retreat by 30% in price on Wednesday. The ticker, however, managed to stabilize itself and might be headed up again.
This is due to the never ending acquisition intention news coming from OLIE‘s management and the paid promotional effort that was carried out by several outlets for a $50 thousand compensation. As we wrote in our previous article about OLIE, the company has decided to acquire Hi Score Corporation (OTCMKTS:HSCO), another publicly traded company in exchange for Convertible Preferred D Stock of Olie.
This happens rarely in the micro cap world, and alongside the paid promotion it managed to stabilize the ticker’s price and stop it from slipping lower in yesterday’s trade session.
Trading was intense throughout the day and OLIE was swinging back and forth between $0.016 and $0.0091. In the end of the session, the company stock registered a small 3% gain and managed to close with a price of $0.01 on a whopping 97 million shares and a good $1.2 million dollar volume.
Today, OLIE‘s management made another press release which announced that they have started the negotiations for the acquisition of UCP Holdings, Inc. (OTCMKTS:UCPH), another micro cap that can bring some promising numbers to the company’s financial statements and provide more securite for its investors.
Of course, it is good that OLIE is taking such interest in the people who have invested in their stock, but it is still unknown if the negotiations will have a positive outcome. In any case, OLIE remains a volatile stock, considering the burst from the beginning of the week.
This is the exact reason for which we would advise you to do a lot of due diligence and weigh out the risks before betting on their stock.
Yesterday was also a good day for the stock of Tiger Oil and Energy, Inc. (OTCMKTS:TGRO), who seem to be gathering momentum in an upward direction on increasing volume. Their stock added a decent 21% to its price on a volume that generated $3.6 million in trade value.
