U.S. Microbics, Inc. (PINK:BUGS) surged 133% to $0.0035 on a volume of 30 million shares. It was a remarkable session due to the huge spike in the share price and the heavy volume.
Trading volume was nearly 60 times higher than the daily average, making it the most intensive trading session in the last year.
BUGS is a no information company, therefore it was not surprising its stock skyrocketed without any official announcement.
In fact, BUGS stock was featured in a trade alert which was came out around 2 p.m. At that time, however, the stock had already surged significantly, so it was not the trade alert that created the hype around the stock. Moreover, the promoter called Microcap Millionaires did not specify he received any compensation for the trade alert.
The fact that BUGS is a no information company makes the signals coming from technical indicators and patterns less credible. Therefore, it is not sure whether BUGS will remain out of its trading channel for long.
