The shares of SEFE, Inc. (OTC:SEFE) shot up 8% yesterday as a third party investor pumped the stock investing $40 thousand into a full-on promotional effort. The stock also found its place on a couple of promoter watchlists.
Yesterday, SEFE finally broke the $1.00 threshold. Opening at $0.98, SEFE reached a daily peak of $1.06 ultimately closing at $0.98, up 8.26% than its previous close. SEFE shares enjoyed heavy trade as a total of 3.25 million changed hands throughout the session. The latter marked a six-fold improvement over the average volume, as well as a six-month record.
Now that the promotion has expired, it is hard to predict SEFE’s market performance in the next couple of sessions as it could either build momentum induced by the huge volume or quickly sink back below the $1.00 benchmark as it did in late-February. No matter what, this paid advertising effort proved more successful than the previous promotion a year ago.
Formerly known as Midnight Candle Company, SEFE, Inc. is primarily focused on developing proprietary technologies aimed at capturing static electricity from the atmosphere and converting it into usable energy for all kinds of industries.
So far, however, SEFE has yet to bring the development of this novel technology to a successful end. According to the company’s last few quarterly reports, it has not generated any revenue yet. Rather it has been incurring losses and experiencing liquidity crises every now and then. Nevertheless, the company could strike it lucky if it succeeds in raising sufficient capital to develop the technology once and for all.
