This week, the trading activity with the stock of US Highland, Inc. (PINK:UHLN) cooled out after the exaltation form last week.
Last week, the company issued two announcements which caught investors’ attention and produced several sessions with a much higher trading volume than the daily average.
On Monday, December 05, UHLN announced that it was in the final design stage of an engine for a customer which the company expected to result in an estimated at $30 million sales contract over the next three years.
Two days later, the company published a press release in which it stated that it had selected a new engineering and production facility in Tulsa, Oklahoma. As a result of the two announcements, the trading volume exploded to the extent that on Monday, Dec. 05, it reached more than 645 thousand shares, or seven times higher than the daily average.
T
his week, however, the trading activity declined below the daily average. Yesterday, soon after UHLN closed the session on a volume of 59 thousand shares, a promoter called Elite penny Stock started distributing a paid newsletter.
It turned out that Elite Penny Stock had been retained by a unrelated third party for promotional and advertising services intended to increase the investor awareness of UHLN. In addition, the promoter disclosed he had received $75 thousand for his services.
Apparently, investors will have to wait until the end of the forthcoming session in order to see whether the promotion will manage to bring back the intensive trading from last week.
