Yesterday, East Coast Diversified Corp (OTC:ECDC) Heading Down headed down after a heavy volume session.
The company issued a press release with which it attracted investors’ attention to its stock. As a result, the total volume for the day reached almost 22.5 million shares. This is seven times higher than the daily average.
Apparently, sales orders for ECDC stock predominated yesterday and as a result the selling pressure pushed the share price 16.67% down. ECDC finished at $0.0025 and is close to its previous 52-week low which was hit one month ago.
As it was already mentioned, the increased trading with ECDC stock yesterday was produced by an issued press release. The press release announced that ECDC had signed a partner agreement between EarthSearch Communications and Cynox, a Nigerian technological solutions provider.
According to the announcement, the partnership relates to oil theft monitoring. In this regard, the EarthSearch’s global positioning satellite and radio frequency identification would be coupled with Russian Built levels sensor technology to monitor fuel levels in oil tankers.
