Yesterday American Community Development Group, Inc. (PINK:ACYD) had an amazing session on the stock market, although it’s not easy to say why.
After a low open at $0.005, ACYD started trading higher and closed up 70.77% at $0.0111 per share on record volume of approximately 17.3 million shares.
ACYD has been climbing since the beginning of the month, but yesterday’s performance stands out, partly because it seems the only logical explanation for it is momentum.
ACYD hasn’t announced anything after the expansion of the nonprofit management team press release on Mar. 28. There are no current paid pumps, and there are no new filings.[BANNER]
The latest financial report didn’t look too good. While the company is often talking about growth and profitable ideas, the fact remains it hasn’t been able to generate significant revenue, much less- turn profitable.
Still, momentum sometimes plays a significant role on the stock market. If the company finds a way to fuel the excitement ACYD could have some more positive sessions. On the other hand, at this time there isn’t much ACYD can boast about.
