Highline Technical Innovations Inc. (PINK:HLNT) went on a rampage since the end of last week, adding over 135% in just a couple days on an announced operational update.The update itself worked only as a remainder of the recent signing of the letter of intent with Dong Feng Motors. The update said the company will be sending two representatives to work on the joint ventures projects described in the LOI.
The news give a feeling of the projects being already in progress, though letters of intent usually are only guidelines to what may happen. Investors still wait for the actual agreements to come.[BANNER]
The stock price continues to increase for the time being, as more and more traders recognize the potential of this agreement. The deal with China’s second largest domestic auto maker would open a way for Highline to further research and to actually apply their technologies in practice.
Such a share price action has been also getting support from various stock pick services that provide more visibility, however, at the moment it’s hard to set a price target as the company’s ventures are not yet officially solidified.
As all Pink Sheets listed stocks, this one should be traded with caution as limited information is available for due diligence.
