E-Waste Systems, Inc. (OTCMKTS:EWSI
, EWSI message board
) isn't one of those stocks that are heavily traded and rarely registers dollar volumes of above $100 thousand lately. The last two sessions, however, have turned the tides as the stock is climbing both in price and volume.
At first, EWSI made a decent 18.52% gain in Friday's session, with a total of 2.3 million traded shares, which we reckon made some investors happy before the weekend. The dollar volume wasn't big with just $100 thousand, but this was an optimistic end of the week, which left some people anticipating the start of this one.
OTCBBJournal and Small-Cap Speacialist jumped into action and made a press release which featured EWSI alongside other micro cap plays that are undergoing expansion, such as Cloud Secutiry Corp. (OTCBB:CLDS) and Voip Pal.com, Inc. (OTCMKTS:VPLM) with links to research reports.
The press release didn't manage to do much for CLDS and VPLM, who both recorded sessions in the red, but did boost the interest in EWSI.
The ticker was barely moving until around noon, when the ascent became more visible and the stock's price continued to rise during the whole day. Trades were equally scattered throughout the session as the company went on to close with a 27% gain in price.
While the price was moving from $0.05 to $0.013 we saw 4.2 million shares switching hands, that helped generate a trade value of $232 thousand, the highest in over a month of trading.
We haven't heard any news from the company itself in more than half a month, apart from a 8-K filing 13 days ago. This creates the possibility for the ticker to sway in both directions and it wont be a surprise if it changes course with the lack of information.
This is why we would advise you to do your due diligence and weigh out the risks if you have any thoughts of investing in EWSI.