Yesterday, in a matter of minutes a huge chunk of Green Automotive Company Corp (PINK:GACR) stock value was wiped out.
GACR dropped down 44% to $0.80 on a volume of 435 thousand. Needles to say the trading activity was tens of times higher than the daily average. The stock crash took place in the first hours of the session. At 10 a.m the company had already waved goodbye to half of its former share value.
Unfortunately, IWEB collapsed without a specific reason related to the stock. There was no announcement or promotions that day that can put light on the unexpected movement of the stock. [BANNER]
On the other hand, IWEB stock performance was in synchrony to the collapsing global markets. Presumably, investors have decided to close their stock positions in GACR also due to the global market conjecture.
Unless there is an update from the company on the recent event, there can only be implications about what awaits the company in the short term. Until then the theory of the global financial markets influence will remain more plausible.
