Quasar Aerospaces (PINK:QASP) hit the radars after the CEO stepped down and the stock price had a liftoff. A new CEO will be taking over and has already made promises to shareholders.As the Dean Bradley stepped down from all positions in the company, the new management is expected to increase the reliability of Quasar and the first thing to do is to get the private funding deal. The new CEO and President Jeff DiGenova stated in a press release that they will be looking to raise funds without diluting the shareholders.[BANNER]
On the market, the excitement about the changes is driving the demand for the stock. Based on the promises of a new CEO, there’s at least some hope for the company to start moving from the rock bottom.
Technically, the price bounce looks strong and carrying a heavy volume the stock could appreciate above the 50 MA, which now blocks the view as a resistance line. On the other hand, the excitement is driven by changes of a questionable quality and no real business improvements have been made yet. Situations like this have caused some swift but brief price surges in the past, so unless some more updates come along, the current move isn’t likely to be any different.
