After several months of no trading activity, yesterday Hitor Group Inc. (PINK:HITR) finally enjoyed some interest from investors. What happened was actually a hype on the market, the first of its kind in the trading history of this company. So, the question now is – what comes next 
First, what happened yesterday The day started with an announcement from Hitor about a master distributor and marketing agreement. Since there is nothing else at hand, it is fair to assume that this press release inspired traders for the hype that led to 3.66 million shares exchanging hands, and to a 50% increase in the price, the session closing at $0.255 per share: an all-time high in terms of trading volume, and 52-week high for the stock price. In addition, as mentioned, it was the first session since April in which there was any trading activity for HITR.
In the meantime, it is also worth-checking what shorters did yesterday, because they also had a very busy day. Out of the 3.66 million shares traded, 1.53 million were the result of short-selling activity. A fact, that should not go overlooked when doing some additional research on Hitor Group. On the other hand, when engaged in the latter, it is the balance sheet to pay the most attention. After all, the 10-Q is here, it came out last Thursday. It covers a period with an end-date June 30th, 2011 and includes the following: [BANNER]
- $6.5k in cash;
- $97.5k in total assets;
- $768k in liabilities;
- $1.6 million in accumulated deficit;
- $0 in revenues;
- $11k in net loss;
Not exactly inspiring, although still not enough to justify the total inactivity on the stock market. Now that millions of shares exchanged hands, things might change. Still, uncertainty prevails and caution must be exercised.
