Water Technologies International, Inc. (PINK:WTII
, WTII message board
) stock got excessive trading activity on Friday last week without any news or promotions. Traders should put it on the watch list today as well as WTII got promoted last night.
From WTII financial reports it is evident that it is a pink sheets company that has not yet established significant revenues and that has almost no cash reserves. Though, its stock suddenly traded nearly 10 million shares on Friday. That amount is shocking when compared to the 3-month average of only about 265,000, but today it could even get topped.
Last night, the promotional e-mails for WTII came into our database. Total compensation has been $167,500 and it was paid different third parties. That promotional budget is huge and should impact trading today. Together with the promotion, the latest press release of Water Technologies will also affect the market today as it was published after market close on Friday.
It announced that WTII has signed an agreement with a leasing company which would now offer 100% financing for WTII atmospheric water generators. It is yet to see whether that news could make the stock break the $0.14 resistance this time. On Friday, the stock closed with a nearly 30% increase at $0.135 for a share.