Yesterday, another promotion dedicated to IceWEB, Inc. (OTC:IWEB) started in the afternoon trading hours. The promotion however, didn’t work out and the company ended the day in red numbers on a volume exactly the same as the daily average.
The exact number of traded shares was 180,966 which is 1,073 shares higher than the 90-day average. During the trade, IWEB reached an intraday high at $0.22, but eventually fell down and closed at $0.21.
The failed promotion was led by OTC Picks, who reiterated the issued news on Monday. The promoter disclosed a compensation of $5,000.[BANNER]
OTC pick has a very extensive promotional biography. It has made campaigns on 165 stocks this year with an average compensation of $5 thousand. According to the other statistics, the promoter has achieved 2% average intraday high and an average dollar volume of $38 thousand per promotion.
The stock chart of IWEB illustrates that IWEB has been dominated by the 200-MA. The stock broke below this line at the end of May and since then it seems powerless to penetrate over it for a long time.
Now that it seems that even a stock promotion could not push IWEB up on the chart, it is far from certain what awaits the stock in the near term. Therefore, investors will have to be prepared for another speculative scenario on the market.
