It looks like even some traders have been surprised that the rise of HHWW share price lasts so long and expect now the subsequent drop off to be severe as some massive sell off begins. Since the day on which the first promotions for HHWW have been disclosed, the stock price is climbing up with large steps and is hitting a new high in each trading session. During the last trading session of last week, the next in row promotion took place and HHWW added another 1.36% , closed at $1.56 for a share and reached the impressive market cap of $93.66 million.
The newly acquired business model of Horiyoshi might not hold that value, but at least it sounds attractive enough to get promoters inspired and create a bullish mood on the market. The last two promotions for HHWW stock were compensated with $55,000, paid by a third party on behalf of the company. Previously, the “opening” promotion on November, 8 was worth half a million dollars.
That huge amount looks even more weird when compared to the financial condition of the company and implies that above mentioned traders’ expectations may actually come true, if not on massive sell offs then on massive dilution.
The company has historically raised funds only through stock sales and paid also for the acquisition of Horiyoshi the Third Limited with 30 million newly issued shares of its common stock. By the end of September 2010 the cash position was $0, no investors for the new business had been found and the design of the “Horiyoshi collection” was still in the “Plan of Operation” section of the quarter report.
