Last Thursday TransAct Energy Corp. (OTC:TEGY) skyrocketed and closed up 900% at $0.10 with significant volume. However, there are several unknowns around the surge.
Before Thursday TEGY hadn’t been traded for about a month. The following day TEGY closed up another 70%, although it didn’t manage to get as high as the open on Mar. 8.
The daily activity on Thursday resembled what you would usually see with promoted stocks – an open with a huge gap up and then the price goes down.[BANNER]
So far, we haven’t been able to find an email that could have started the surge, although there are some who seem to be trying to take credit for alerting on time.
Unlike most promotional spikes, TEGY closed up the following session. Which may also be viewed as strange since the company hasn’t made any announcements recently and their financial reports show it was virtually broke.
- $0 in cash
- $1,398 total assets
- $1,143,130 total current liabilities
- $0 revenues since inception
Additionally, the web site of TEGY says the domain name expired recently and is pending renewal or deletion. Whatever the reason for last week’s performance was, it doesn’t seem like TEGY is a sound investment in any way.
