Implant Sciences Corporation (PINK:IMSC) made a lot of traders happy yesterday. The company has been actively issuing press releases, and the latest one caused a significant surge.
IMSC traded very actively throughout the session and managed a close at $0.835 per share, up 15.19%. The volume reached 412 thousand shares and came close to a new 52-week high.
The company has issued a number of press releases over the past several weeks. In the last three days IMSC has hired three people, the latest announced yesterday.[BANNER]
The press release suggests the company is getting ready to increase production which seems to be an exciting idea for shareholders and traders.
There is no reason it shouldn’t be. IMSC has been consistently losing millions ($3.29 million for Q4 of 2011 alone). On top of that, IMSC has a large working capital deficit. If the company manages to turn profitable it would be huge.
While the news published by the company doesn’t provide anything definitive, it is obviously enough to inspire hope in shareholders, and hope often significantly influences the market performance of penny stocks. If, however, IMSC fails to meet the increasing expectations the results could be disastrous.
