Yesterday, Beacon Enterprise Solutions Group Inc (OTC:BEAC) scored a heavy trading volume during the session.
The number of BEAC shares which changed hands exceeded 62 thousand, which is four times higher than the three-month daily average volume.
FINRA reported that 36 thousand shares were exchanged in short transactions during the last session. In relative numbers, the short volume represented 58% of the whole volume for the day.
Despite the increased trading activity, BEAC share price remained unchanged as compared with the previous close. However, during a significant part of the session the stock was traded as low as $0.24, but at the end of the session with a single stroke BEAC went back to $0.29.
The explanation of the increased trading volume lies in the promotional archives of the company. Yesterday, BEAC was included in a paid promo letter issued by Stock Guru. The promoter disclosed that he expected to receive up to $10,000 for the promotional coverage.
Yesterday, the company also announced that it was going to discuss the fiscal 2011 year-end results next week during a shareholder conference call.
In the mean time, it is far from certain whether BEAC will manage to keep the increased trading activity without the help of promotions.
