traded more than 1 million shares, while yesterday it added 20.87% more to its price and its volume exceeded 5 million shares traded.The surprising high trade happened at no news on the company and there is only one reasonable explanation on the up move – promotions. According to the records, ABTG has paid to get promoted two times yesterday, and the promotions immediately reflected on the stock.
Ambient Corporation designs, develops and markets Ambient Smart Grid® communication technologies and equipment. The latest news about the company was released in September this year, when Ambient announced it was selected by Duke Energy for further development of its grid-based communications architecture. The company also reported that it was expanding its smart grid deployments in Ohio and was “positioned to meet the recent increase in purchase orders”.[BANNER]
After publishing the news, ABTG stock jumped up, though it fell down shortly. Looks like now the company relies on the promotions to hold the current uptrend.
In August, Ambient announced its second quarter results. According to them, the company registered record revenues of approximately $6 million for the six months ended June 30, 2010. However, the total assets of ABTG are not much higher than its liabilities and its stockholders’ equity has decreased.
The company is confident about its higher revenues in future, though it also anticipates that it will “continue to incur losses during 2010” and that “the Company may need to raise additional funds to expand existing commercial deployment”.
