Since the middle of September, SecureAlert, Inc. (OTC:SCRA) stock trades in almost every session a volume exceeding the average for the stock. Then, the company announced the resale of shares of its common stocks by some selling stockholders, which resulted in a SCRA stock rush.According to the filed prospectus, the resale of SCRA shares by the selling stockholders concerns an amount of up to 166,602,000 shares.
In compliance with the general rules of such a resale, SCRA will not receive any proceeds from the sale of the shares by the selling stockholders.
As usually happens in such a situation, days after the prospectus became available for the public, SCRA stock became most actively traded.
Two dojis on SCRA chart present the uncertainty towards the stock price direction. Since last Friday, SCRA opened the market and went nowhere throughout the day in three consecutive sessions, closing right at or near the opening price. This was a clear signal for investor indecision and for traders questioning the current trend.[BANNER]
The latest company’s news that could support increased interest towards SCRA stock are too old. At the end of this August, the company released the execution of an agreement with the government of the Brazilian state of Rio Grande do Sul for the deployment of the company’s TrackerPAL II devices on offenders located in and around the metropolitan area of Porto Alegre.
At that time, the company also announced it has joined as sponsor the Surviving Parents Coalition’s (SPC) “Ride for Their Lives”. During the last two trading sessions, the traded in a heavy volume SCRA stock and the wide price spread of the shares are suggesting that the time of increased interest towards SCRA came and that the shares’ fair value is still to be negotiated.
