The last two press releases of CAVU Resources Inc. (PINK:CAVR
, CAVR message board
) initiated a strong rise in the stock price of the company which continued yesterday as well. CAVR still offers no current material information to the public and remains a speculative stock.
The session yesterday closed with a 44.74% increase in CAVR share price at $0.0165. Trading volume was much larger than the average with 16.33 million traded shares. Although CAVR has crossed the 50-day moving average and its RSI is now over 75, the stock should barely be considered a strong buy.
CAVU Resources still bears the red STOP No Information sign on the OTC Market, signaling that the company's recent financials are either too poor to be disclosed to the public, or there is something wrong with the way they have been prepared. In any case, information about the company's current activities and financial resources is available exclusively over countless news releases coming out each month.
Now, CAVR has even bounced up from the bottom during the past week, doubling its share value. On March 12 the company announced to have acquired two other companies engaged in the installation of photovoltaic solar panels. The PR claims the acquired companies had projects for $59 million in revenue for this year. A couple of days after that, CAVR also announced it had started a workover program om the Hogshooter lease in Washington County, Oklahoma.
It is yet to see how far CAVR share price could go on these claims and on the subsequent speculative trades.