Another promotion took place for the shares of EVPH on Friday last week, compensated with $40,000 from a third party. As seen from our database, the promotions for EVPH are running since last Tuesday and up to now the total amount of cash received by the 34 different promoters is $116,000. On Friday, EVPH jumped another 95.92% up, closed at $0.048 and traded 51.82 million shares.
That volume is 23 times the average for the stock, and it is also by far the highest in the stock’s short trading history on the Pink Sheets. As already mentioned on www.hotstocked.com last week, the financial reports of the company do not suggest that it has something to justify the current market value of its stock and the market cap looks now overvalued by at least several times.
Thus, while Everybody’s Phone Company keeps announcing its new marketing plans and future partnerships to earn over $20 million in revenues and $10 in gross profit, traders have so far only noticed the “multiple benefits” of the paid stock promotions. Now all resistances back to August last year are broken and RSI and Accum/Dist show that more appreciation is possible. Though, maybe also the time approaches for the two third parties paying for the promotions to decide to start dumping the shares they are possibly still holding.
At promotions’ start, the stock got notable shorting attention as well with 71% from the trading volume being short sales last Wednesday. Since then about 22 million shares of EVPH have been shorted, which is less than the last known public float of the company. On Friday, the share of the shorters exceeded 35% of the total trading volume and that percentage is now decreasing.
