On Friday, the traded below its 50- and 200- day moving averages since the summer Advitech Inc. (CVE:AVI), (PINK:ADVVF) stock finally reminded investors that it has the potential to bring them a gain. On no recent company’s developments, the shares made a three-digit percentage surge in a day.
While on the OTC market the shares of Advitech Inc. were traded for the last time this March, on the TSX Venture Exchange the usually traded with a less than seven hundred share volume AVI stock suddenly exploded at the end of the week.
The shares surged 133.33% between the sessions, breaking their volume records. Though the huge price spike, bold in more than fourteen million shares changing hands, AVI was not able to jump up to the levels of its 52-week high noted this June.
The latest available official information about the company were its financial reports from the end of last month. There the company demonstrated a strong cash position thanks to its sales of shares, and confirmed the trend of decreasing revenues that are in addition not able to cover the operational cost.[BANNER]
Looks like the strong belief of investors in the company’s prospective future and some speculative play rushed AVI stock at the end of the week.
As it usually happens in cases like this, after the huge price spike a major price decline may follow, or some not yet announced brilliant news are pending in support of Friday’s boom of the shares.
