Solos Endoscopy, Inc. (PINK:SNDY) went up more than 100% in three sessions after issuing a press release on Jan. 29.
Yesterday was the third session after the PR, and SNDY closed up 71.43% at $0.0024. The volume fell a little short of 37 million shares.
While the market performance of SNDY was remarkable, it should be noted that, according to FINRA daily file, approximately 60% of yesterday’s volume came through short trading.[BANNER]
The company’s latest financial report showed SNDY finished Q3 of 2011 with a $74 thousand profit, however, that was primarily due to the forgiveness of approximately $300 thousand of debt.
Today, SNDY opened with a gap up, then dropped below yesterday’s close, and at the time of this writing it’s flat at $0.0024.
The company may have to provide shareholders with something a lot more significant than a self-touting press release in order to keep the value gained in the last three sessions.
