These days, IDO Security, Inc. (OTC:IDOI) stock surged in response to the CEO sending a letter to the shareholders about the alternatives to raise funds. But most of all, the surge happened on the stock alerts.
Yesterday, investors’ appreciation of IDOI upward move pushed the shares 56% up. The volume traded was also significant. More than 177 million shares changed hands.
This was the accumulated effect of the latest company’s SEC filing from the end of September and of the stock alerts that recommended IDOI as the pick of the week.
In the SEC filing, the CEO’s statement that “the MagShoeTM was in many ways ahead of its time and the world marketplace” is followed by a kind appeal to investors to vote “For” the increase of IDOI number of authorized shares.
The main arguments in favor of that decision were the ability to raise additional capital and the possible reduction of the company’s outstanding debt. Since then, IDOI shares are almost constantly climbing up, like in response to the CEO’s appeal. Not taking into consideration the planned dilution, investors appreciated the shares’ upward direction.[BANNER]
Although yesterday’s released information about some received by the company orders for additional MagShoe M-100 units did not contain any financial “dimensions”, like expected revenues or value of the contract, IDOI stock rose again.
Here arises also the question, for how long IDOI shares’ climbing up can continue, if we exclude the shorters’ interest.
