Kunekt Corporation (PINK:KNKT) has been recovering from the recent 52-week low which was hit just before the eve of 2012.
True to its no information nature, KNKT has made this radical shift without any officially released news or reports.
Yesterday, KNKT broke out from an important resistance level at $0.08 and surged on a heavy trading volume.
The stock finished the session 66.67% higher than the previous close at $0.15 per share. The volume during that day exceeded 560 thousand shares, which is eight times higher than the daily average.
According to FINRA statistics, 205 thousand shares were exchanged in short transactions, which is 36% of the whole volume.
The last released news from the company dates back to June last year when KNKT announced several important agreements. The short spike which followed the announcement was later followed by a strong downtrend which brought the stock deeper into the sub-penny realm.
At the end of January, KNKT filed a notification of late filing pertaining to its 10-K for the period ended October 31, 2011. The same day, the value of KNKT stock dropped down 6% but the trading volume remained below the daily average.
