Hitor Group, Inc. (PINK:HITR) made a surprise move up yesterday, although there didn’t seem to be any logical reason for it.
HITR closed up 39.13% at 16 cents per share with an unusually high volume of nearly 700 thousand shares.
The previous three sessions in a row, HITR had been closing flat at $0.115 with volumes more than ten times lower.[BANNER]
The company is supposedly engaged in the field of environmental technology, which could make it somewhat exciting, but the fact is HITR hasn’t announced anything since December, and there doesn’t seem to be a promotion at the moment.
Additionally, the financial reports of HITR are hardly inspiring reads. The latest one is for the quarter ended June 30, 2011, and at that point HITR was in the development stage, had a negative working capital, and was recording significant losses.
It’s not clear what caused yesterday’s market performance, and it’s not clear what, if anything, will happen again. What is certain is that it is hard to find a reason for HITR stock to move up.
