Yesterday, AMP Holding Inc. (OTC:AMPD) scored a heavy trading session after it generated a volume of over 233 thousand.
Unlike the heavy volume, the price performance didn’t act as fervently. At the end of the day AMPD shares had dropped down but by only 0.99%. AMPD shares reached $0.5 per share at the closing bell.
The intraday chart reveals that the bulk of the heavy volume was generated around midday, which caused AMPD stock to hit an intraday high at $0.59.
Another point worth mentioning in the case of AMPD is the short volume data for the last session. The official data published on the FINRA website showed that 85 thousand shares took part in short transactions for the day. This represents 36% of the whole volume generated during the day.
AMPD hasn’t released any news since mid-October, so the reason for the heavy trade probably lies in the 8-K which was filed yesterday. It provided a summery of the sold shares of common stock purchase warrants since May 2011 for an aggregate purchase price of $3.659 million.
However, apart from generating more volume, the announcement didn’t have any effect on the share price. It seems that for the last two months AMPD has been pivoting around $0.5 and it is unclear how long AMPD will maintain this level.
