ThermoEnergy Corporation (OTC:TMEN) is getting a paid pump which may affect trading today, after yesterday’s press release did next to nothing.
After issuing a press release which basically focused on the CASTion Sugar Recovery System and delivered no news, TMEN closed up 6.67% at $0.16 on approximately 59 thousand shares, which is lower than the average for TMEN.[BANNER]
Today’s performance could be boosted by a paid pump. A third party, Alliance Advisors, paid $30 thousand to Stock Appeal LLC to promote TMEN.
Currently the symbol for ThermoEnergy Corporation has an additional “E” at the end. It is probably the result of an 8-K in which the company stated its previous financial reports are not to be relied upon, and the company will restate its 10-K.
The company has recorded some revenue growth year over year, but it’s yet very far from profitable. The long-term future of TMEN is not certain, but for today the promotion could cause some commotion.
