Solos Endoscopy, Inc. (PINK:SNDY) stock price seems to be starting an uptrend in the last two weeks. However, the increase in the share price is most probably caused again by speculative trading as it was the case earlier this month. 
On Friday, 46% of the total trading volume of SNDY, which amounted 67.78 million, represented short transaction as stated in FINRA trading data. The day before that, the portion of short sales was nearly 30%, while it exceeded 50% on Wednesday. As the company has not issued any news lately, the rise of its share price might be due to the covering of these short positions.
Friday session closed at $0.0033 for a share of SNDY stock, which is 43.48% higher than the previous close. As mentioned, trading was very intensive as seen on the highest trading volume for the past six months. SNDY also broke the resistance level from end-October.
Solos claims in its latest quarter report that it is in the business of developing technology and applications for medical diagnosis and treatment. However, all that the company has been engaged in over the last five years has been to organize the business and search for funds.
Yet, not much has been achieved so far – SNDY revenues have been insufficient and with a large working capital deficit the company is again in a dire need to raise more capital.
