WordLogic Corporation (OTC:WLGC) stock presented a spectacular performance upon market opening, driven by the selection of a new Director of Mobile Technology, and from behind the curtains, by a paid stock promotion.
WLGC stock price soared as much as 13% shortly after the market opened, but failed to retain the rally for a couple of hours. The jump was caused by two factors
Michael Flom, who previously worked for the firm as a consultant, was invited to take the position of Director of Mobile Technology at WordLogic. Mr. Flom also takes the seat of the Managing Director at Flom Wireless Application/LBS Consulting.
The news is certainly positive, as in the past Mr. Flom has worked to create various systems for such giant companies like American Express, Ericsson, Motorola and Nextel.[BANNER]
Today’s buying pressure was further fuelled by a paid stock promotional campaign, run through a couple of penny stock newsletters. Wall st. Grand, a third party, paid $25 thousand to get the stock price running. Despite the good news in play, the buying pressure is very likely to decrease sharply after the initial excitement caused by the stock advertising.
WordLogic has developed a predictive text search technology, which according to the management rivals that of Google. The similar technology is being gradually introduced on various Google servers. Officially, no patent infringement issues have been addressed.
