Yesterday, CPOW added the next 32.82% in value and closed the market at $0.344. Trading volume was over 49 million shares and although the shares have entered the overbought area some technical indicators point that CPOW may rise even further up today. Also, the trading session yesterday was marked with the usual for CPOW these days new 52-week high and a press release after market close.
Though the content of CPOW press releases starts to repeat itself in some way, it looks like the gained publicity still keeps the stock on traders watch list. According to the announcement from yesterday, Clean Power Concepts next new line of products under the company’s expansion plans will be the “Clean Power” brand, under which CPOW will market lubricants and conditioners. The CEO did not specify for which of the last two new lines of products the $9,000 in cash available according to Clean Power’s latest balance sheet will be the sufficient financial resources, for the “Clean Power” brand, or for the announced last week “Spirit of Health”.
The expected benefits for shareholders from these new project are also out of sight, which did not prevent traders to put a $82.5 million market cap on a company with half a million in assets and four times more debts. On the other hand, one of the promoters that included the stock in their alerts attempted to take additional benefits, claiming to be the first one that noticed CPOW future gains.
