The believers in the innovative technology, which is being developed by Vendum Batteries Inc. (OTC:VNDB), triumphed in the last trading session. VNDB was crowned with 12% appreciation of its stock, which was achieved on a volume of 1.2 million shares – the highest in the company’s history.
VNDB regained some of the territories it lost after the effect of its last promotion was depleted. The stock started losing ground on Monday, and for three consecutive days it finished in the red. The huge volume from yesterday gave a solid signal for the new direction of the stock price graph. However, around 50% of the traded volume was comprised of short sales, which may add a different angle to the hype around VNDB.
The spike of VNDB was caused by the news that the company had joined the IEEE. The latter is an association dedicated to advancing technological innovation excellence for the benefit of humanity. VNDB expects that this membership will help link the company with industry leaders and “focus on providing solutions to real applications in the clean energy storage market.”
VNDB has only recently started actively trading on the market, which is an obstacle for a reliable technical analysis of the stock. On the other hand, being a development-stage company with only one employee, VNDB renders the other instrument for insight also unreliable. Therefore, investors will have to rely on their intuition for guidance about VNDB stock in the short term.
