Shares of FindEx.com, Inc. (OTC:FIND) are witnessing heavy buying activities in the opening session on Friday despite the broader markets are moving down sharply following on Job reports.
FindEx.com gapped up by 300% and gained further moving as high as 635% after hitting a new 52-week high above $0.02. However, the stock has cooled off and now trading higher by 409.09% to $0.0168. Volume is very unusual with more than 2.18 million shares already traded hands within less than 30 minutes of the morning session.
The stock has been very illiquid over the past few months including various session, when no trading was done. Today’s sharp run-up is bit surprising as there is no news out which could justify the rally.
The company issued its latest press release on Aug 22, when it reported its quarterly results and stated that it had revenue of $37.24K during the latest quarter, compared to a year ago revenue of $94.38K.
However, the company’s net losses reduced to $281K, from $591.83K a year ago.
The company said that it anticipate a drastic reduction to our sales, marketing and general and administrative expenses due to the conclusion to sell our QuickVerse’s product line.
We develop, publish, market, and distribute and directly sell off-the-shelf consumer and organizational software products for PC, Macintosh’s and PDA platforms.
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