In the middle of yesterday’s trading session the share price of Green Energy Solution Industries, Inc. (PINK:GESI) stock suddenly spiked up on huge trading volume. That has been caused by a new promotion and the release of a PR announcement.
The session finished with a total gain of 16.55% from the previous close and GESI closed the market at a share price of $0.05. Total trading volume for the day was nearly 5.4 million traded shares, which is a few times higher than the daily average. Technically, the price jump from yesterday could have a continuation at the beginning of today’s session as RSI is on the verge of the overbought area of 70.
Also, there is another promo mail sent after market close yesterday. Disclaimer reveals that the promoter has received a compensation of $25,000. Our database shows that it is not the first promotional campaign for GESI. The company has been promoted previously in October last year, but under its old name and ticker SatMAX Corp. (PINK:SATM) for a total compensation of $54,500. The chart shows what the consequences were.
Along with the promotion, a press release came out as well yesterday. It says the company “anticipated’ entry into a Power Purchase Agreement for the delivery of electrical power through a planned by GESI facility. That news does not sound meaningful at all, and as the company has no fundamentals to support its market valuation any promotional gains should expire quickly this time as well.