Yesterday, Here Enterprises Inc (PINK:HRTE) broke a volume record when the number of traded shares went over 63 million. With the daily average being at 4 million shares, this means that the trading activity was more than 15 times higher than usual.
The rush of the stock was most likely produced by a press release which came out on Marketwire yesterday. It said that HRTE would host the Traxxas TORC Series on their Cycle Ranch Motocross Park on October 15 and 16.
Increased trading interest in HRTE stock followed after the news was published. The trade was apparently dominated by buyers as the stock price was pushed up by 31% and closed the session at $0.011. During the day, HRTE reached an intraday high of $0.0144 as a result of the buying pressure, but later on the trading activity eased out, which brought the stock lower than the intraday high.[BANNER]
After the end of the last session, it became apparent that two bullish crosses had been formed by the MACD and the short-term moving averages. Moreover, HRTE surged above the 50-MA, which is a strong stimulus for the long investors as well.
However, it is not sure whether HRTE will manage to maintain the increased stock value once investors start to forget about the announced hosting. So, it is not sure if HRTE will offer the same excitement for investors in the long run as well.
