Rackwise Inc (OTC:RACK) got the climb at last. After some days of losses and zero price changes, yesterday the stock 
soared 9.09% on a rather high traded volume.
The latest news by the company came up on Dec 15, when Rackwise reported that it has executed a series of agreements with Intel Corporation to effect a master license for the intended deployment of its DCM software product and implement an evaluation and feedback agreement related to its DCiM software solutions. The first phase of the project is expected to commence in the first quarter of 2012.
On the day when the agreement news was released, RACK stock price jumped up by 18%, though the climb lasted only for a day.
Lately, no announcements on Rackwise have been released and no one is informed on its current activities, Though, there is another factor for the price jump of RACK.
Yesterday, the stock got massively promoted by numerous promoters for a total compensation of $99,000. Some of the promotions involved no third party, meaning that Rackwise itself has paid the campaign. Apparently, the company is determined to hold the up move for longer this time.[BANNER]
Rackwise, Inc. is software company with its flagship software RACKWISE Data Center Manager (DCM). Not long ago, the company completed a private placement offering but its financials don’t inspire confidence at all.
As of September 30, RACK had a huge portion of liabilities, impressive net loss and poor amount of cash. In addition, the stockholders’ deficiency and the accumulated deficit were shocking values.
These results raise substantial doubt about the company’s ability to continue as a going concern, unless it finds a way to obtain additional capital for its operations.
