Yesterday, Sea wright Holdings, Inc. (PINK:SWRI) jumped 618% to $0.079 on a volume of 521 thousand shares, which is several times higher than the daily average.The stock opened with a huge gap at $0.108, then dropped back down near the previous close. Around the middle of the day, a huge batch of nearly 340 shares was traded at a time which brought the share price at $0.05.
This activity had apparently attracted the eyes of promoters as a trade alert popped up shortly after the big trade was made. It came from Hotstockcafe.com and pointed to the peculiar movement of the stock.
The disclaimer of the letter comprised by Hotstockcafe.com did not specify directly that a
compensation was paid for the alert. However, at the end of the letter a hyperlink pointed to the compensations received by the promoter. However, the link led to a “Page was not found” message.
Thus, with several smaller trades which happened after the alert, SMRI skyrocketed. This price explosion looks rather speculative though as no announcements or reports, save for an NT 10-Q, were published during the day.
