If you wonder why Structural Enhancement Tech Corp. (PINK:EMWW) generated such a huge volume yesterday, it is just because a free alert provider disclosed to have bought significant amount of EMWW stock yesterday.
Indeed, EMWW shifted approx. 8.3 million shares yesterday, setting an all-time high. What is even more curious is the fact that it also made a huge price jump as EMWW gained a staggering 55% by the end of the session, ultimately closing at $0.02 per share. In a nutshell, in spite of the huge turnover, no long squeeze occurred, at least for the time being.
However, almost half of these 8.3 million shares, i.e 4 million, were bought by a single party which also intends to sell them within the next couple of days. Therefore, if you own EMWW stock and you are waiting to see how far its price will go, then you might end up disappointed if you don’t act quick enough. Because, even if EMWW went up say another 55% in the forthcoming session, a possible sell-off of such a magnitude will definitely bring about a grand drop in value.
Until recently, EMWW used to be a regular SEC filer occupying the OTCBB marketplace. Unfortunately, this is no longer true and the company has now been relegated to the OTC Pink limited information tier. The latest news about EMWW popped up on Nov. 8. Back then, the company annouced the launch of an anti microbial protection program aimed at delivering cost-effective anti microbial protection to the most frequently touched surfaces at home.
While the program’s success or failure will be evident no earlier than 2012, the market behaviour of EMWW stock in the immediate term is likely to be unusually volatile because too much volume is at stake.
