The total gain after Friday’s trading session was 7.5% and the stock closed at $0.0086 on a trading volume of almost 36 million shares. SNEY has thus improved its technical parameters and looks stable on its current levels. Though, the company has not published any recent financial results or any other information about its business, which puts under question the current market cap of over $8 million for a company with unconfirmed assets and no revenue sources.
Last week, Sunergy kept its practice to inform traders about its activities over press releases. The latest one reported on Wednesday that the company’s Pampana River Property in Sierra Leone contains also Titanium, along with the previously announced Gold, Rare Earth Elements and Diamonds. It is not known if that “news” sounded more credible to traders than the preceding updates, but it sounds logical that the stock liquidity got improved again.
SNEY stock jumped up to its current trading range at the end of October. Then the company announced, again only in a press release, that it has completed the acquisition of Allied Mining and Supply, LLC (Nevada) and its assets consisting of the Pampana River concession in Sierra Leone, West Africa.
