Unity Management Group Inc (PINK:UYMG), which for some reason or another is still listed on Google as Unity Auto Parts Inc. (PINK:UAPI), has been literally baffling the market spectators in the last couple of sessions. The stock pushed steadily forward, and when for a while it seemed that it was about to enter the triple zeros area, it is now in the family of the high volume penny stocks.
It all started when UYMG announced it received a purchase order from Boehringer Ingelheim Pharmaceuticals. According to the announcement, UYMG will supply the purchaser with complete instrumentation and calibration services to upgrade its preexisting equipment. The whole deal would cost $75 thousand.
UYMG jumped on the same day by nearly 27% to $0.0028. Since then the company retained the upward impulse and has been constantly finishing in green numbers. The fact that UYMG showed an upward momentum has apparently attracted more traders, which resulted in a significant surge in the traded volume.
Yesterday for example, nearly 10.4 million shares of UYMG common stock changed hands, while the stock price sprang 71% to $0.012. The trending technical indicators have supported the up move with their bullish configuration. However, the MACD histogram shows a large divergence between the two lines of the indicator. That often means the stock is about to exhaust its exaltation.
Apparently, the issued news rejuvenated the lethargic stock of UYMG and now the result is a more active trade than usual. However, UYMG is still a limited information pink sheet company, which means that higher than usual risks are always possible to befall the unsuspecting investors. So, despite the company’s practice to issue news, it is not certain if UYMG stock will follow the same pattern every time.
