Freedom Energy Holdings, Inc. (PINK:FDMF) stock price got even more volatile yesterday as if traders anticipated the coming of the new promotion in favor of the stock today. 
FDMF traded over 25.7 million shares yesterday, which is the highest trading volume it gets since the previous promotion in the beginning of January this year. The market opened exactly at the 50-day moving average at $0.0035 and the share price then spiked up above $0.0055. The session closed at $0.0052, which represents a 48.57% increase from the previous close.
Crossing again the 50-day MA, FDMF could give a bullish signal for reversal of the downtrend, yet the background of the company and its recent unfounded stock price moves should make traders cautious. Especially considering the fact that FDMF will today again trade under the impact of a new promotion.
The new e-mail for Freedom Energy Holdings stock came into our newsletters database last night. It proclaims the stock as a “Pure Profit Swing Play” as some levels of support were created around the 50-day moving average in the last three trading sessions. It is not to count on secured profits, however. The promoter received $65,000 to distribute the e-mail and although the paying party was not revealed in the disclaimer it is likely that it holds shares to sell.
Freedom Energy Holdings claims in its last financial report that it is engaged in the identification of opportunities within the oil and energy sectors, and that it has expanded its operations to offer consulting services related to petroleum products.
FDMF revenues came actually solely from consulting fees in the first nine months of 2011, but the result was an operating loss of around $3,000. The company is in a dire financial condition as well. It had $4,854 in cash and a working capital deficit of over $1.5 million at the end of September 2011.
