Worldwide Internet (OTCMKTS:WNTR) Bounces After the Crash
Our first article on Worldwide Internet (OTCMKTS:WNTR) went online a few hours before the opening bell on Friday. The reason for our coverage was the impressive jump and the huge trading volumes registered during the previous days, but if you have a quick look through it, you’ll see that we weren’t quite sure about the ticker’s ability to sustain a more prolonged run in the right direction.
A few hours later WNTR displayed some pretty horrific performance and wiped out a third of its value in a single session. As you might imagine, we weren’t really surprised by the drop, but quite a lot of people were wondering what’s going on. Some investors around message boards suggested that the 33% fall is nothing more than a healthy consolidation that is just a normal part of a stronger run. Others blamed the catastrophic performance on the market makers and said that everything should be okay in the coming days and weeks. On the whole, the weekend optimism was stronger than ever.
Looking at yesterday’s performance, it might have been founded as well. WNTR opened the first session of the week with a huge gap up at $0.0072 and although it showed some hesitation during the first minutes, it finished the day at $0.0077 which is 24% above Friday’s close. The volume, at 26 million shares, was not quite as impressive as the ones shown last week, but it was still enough to rack up a trade value of nearly $200 thousand.
Not surprisingly, message boards are now full of happy shareholders who make bold predictions about the future. Some even see the stock at around $1 per share in the not too distant future, but what are the chances of this happening?
Even after the impressive bounce, we’re still not sure.
On the one hand, the press releases coming out of the company HQ sound quite optimistic. Apparently, WNTR have already negotiated several acquisitions of companies that are supposed to result in millions of dollars in assets. When you read carefully through the announcements, you’ll see that Mr. Frank Kristan, the company CEO, wants to turn WNTR into a huge diversified holding by buying out various businesses from another diversified holding called Ludvik Holdings, Inc.
The thing is, Ludvik is privately held which means that we have absolutely no idea how successful it is. Their website states that the investments they have made now amount to $50 million, but, as you’d expect, there are no filings that can confirm those figures. And here’s another thing – if you check out, Mr. Frank Kristan’s LinkedIn profile, you’ll see that in addition to being the CEO of WNTR, he is also at the helm of Ludvik, which is something you should probably keep in mind while considering your options.
Speaking of Mr. Kristan, it’s probably worth reminding you that his reputation among investors isn’t exactly spotless. We mentioned last week that after a quick Google search, you can find quite a lot of complaints, articles and even lawsuits filed against him. You can find all the links in our previous coverage and we would suggest that you have a good look through them and perform a lot of due diligence before committing to an investment.
WNTR wasn’t the only strong performer during yesterday’s session. Makism 3D Corp (OTCBB:MDDD) managed to start the week on a positive note and seems to be aiming for the pre-pump highs. Marani Brands, Inc. (OTCMKTS:MRIB) also had a great day. Their share price went up by as much as 55% while registering a dollar volume of more than $750 thousand.
