Yesterday, Upstream Worldwide Inc. (OTC:UPST) stock demonstrated its exclusive and explosive power to swim upstream and to bring investors the joy of the quickly banked gains.On no news about the company’s development since last October, when the new trading symbol of Upstream Worldwide Inc. was announced, suddenly the not new for traders UPST stock jumped against the stream.
During yesterday’s trading session, the price of UPST surged 92.31% to close at $0.05 per share. The price explosion was “showered” in almost thirteen daily average share turnovers.
This was not at all the best performance of UPST, but its scale reminded about the promoted last summer “World`s Hottest Gold Stock” of the former “Money4Gold Holdings, Inc.”
As opposed to the stock rush from those days, recently there are no disclosures about official stock promotional campaigns. There are not even stock alerts that may grab investor attention and make them buy UPST.
The only factor that may be shown as a reason for UPST stir from yesterday is the registered 62.25% shorted shares portion of the monstrous amount of almost six million shares changing hands.
In this informational eclipse, when even the company’s website is not updated to the not so new any more name Upstream Worldwide Inc., it is hard to expect that powers other than some speculative interest may rush up the company’s stock.[BANNER]
Maybe, the fact that the main business of UPST is the sale of precious metals and precious stones, including gold, silver, platinum, and diamonds, made some input to yesterday’s boom.
Though the company declared some changes in its business plan at the end of the last year, they rather do not meet investor support yet.
Looks like shorters’ interest as of yesterday was a more powerful factor for the good performance of the shares than UPST plans to offer reverse logistics services for small consumer electronics. However, to date the revenue generated from these additional services has not been material for the company and for its shareholders.
