The last several sessions were astounding for Great Wall Builders, Ltd. (OTC:GWBU
, GWBU message board
). In the last four sessions the price has gone from about $0.7 to $1.54.
Yesterday was the most exciting day so far. Fueled by a number of paid pumps, GWBU closed up 41.28% on nearly 36 million shares. The volume represents more than 10% of the number of issued and outstanding stock, assuming it hasn't changed since April 20.
One of the promoting companies, Centro Azteca S.A., disclosed it expected to receive $100 thousand for its efforts. Another promoter expects $50 thousand.
Unlike most promoted stocks on the OTC, GWBU managed to close with a significant gain, although it was not at the high of the day.
Before an asset acquisition agreement in March, GWBU used to be a shell company. Now GWBU has founded Start Technologies Europe I.G. with the expressed purpose of promoting the technologies it acquired the rights to back in March.
While the market performance of GWBU has been nothing short of amazing these past several sessions, one has to wonder what is it that the company really has. At this point very little is known about the actual financial situation at GWBU, and at the current price it has a market cap of over $500 million.
About two hours ago the company issued a press release saying that tests showed significant improvements through the use of GWBU's technology. The tests were carried out by THESI s.r.l. di Imola of Italy, an Italian ISO 9001 certified company.
Even with the press release and the expensive pumps, at over $500 million GWBU may prove to be overpriced, considering how little is known about what the company really has and with the uncertainty of how well its product may sell.