Yesterday Cleantech Transit, Inc. (OTC:CLNO) had an impressive session. The closing price reached $0.089 per share – a 52.14% increase on more than 10 million shares.
The most likely reason for the surge is the information provided by CLNO in two press releases. One was issued after the close on June 5, and the other followed shortly before the open yesterday.[BANNER]
Both releases covered the plans of CLNO to get a more significant presence in the biomass power generation. The company also said it was happy with the performance of its 500 KW power plant so far, although the actual financial results are not mentioned.
Despite the lack of in-depth information, the market reacted positively.
After the close promotions started coming in. A bunch of newsletters which seem to be operated by one company tout CLNO. The promoter disclosed a $20 thousand compensation for three days of services. The sum was paid by a third party.
At the time of this writing, CLNO is up another 16.85%, trading at $0.104 with more than 2 million shares traded already.
