Last week, Axion Power International, Inc. (OTC:AXPW) started moving up. On Friday, the stock fastened the gain by adding 
another 8.33% to its price on the increasing traded volume of over 448 thousand shares. So, what’s next today?
Practically, no particular reason for the gain can be found at this point. Axion has not issued any press releases these days, nevertheless the stock is climbing up.
In fact, the last news by the company came up on Aug 2 and it announced that the quarterly results will be reported tomorrow, accompanied by a conference call for the stockholders. Yet, nothing further was revealed.
Axion Power develops a platform technology for a family of energy storage devices that use carbon electrode assemblies. As already reported on hotstoked.com, in end-March the company used to trade about 50% higher than now. However, since then the stock price has moved down significantly.
In the meantime, apart from the intensive disposing of AXPW shares of common stock during the past month, the company’s financials have not changed.[BANNER]
Despite the fact that the assets of Axion are higher than its liabilities, the deficit accumulated during the development stage period got over $70 million by March 31 this year. Besides, AXPW has other significant losses that shouldn’t be ignored.
So, currently, investors must be looking forward to the company’s new 10-Q tomorrow, which will give them a better idea about their future investments.
