Echo Metrix, Inc. (OTC:EHMI) spiked sharply up yesterday by 28.57% and landed at a new 6-months peak at $1.80. The volatility of the stock suddenly began expanding again after the first bounce up and accumulated strongly speculative buying.
The extremely high volume from Wednesday continued attracting investors yesterday, though trading intensity seems to be decreasing with 1.4 million shares changing hands, around half a million less than the day before. The stock has been traded mostly by short sellers since Monday tof his week. Around 25% short sales of all yesterday’s trades hyped the volume one more time, making the stock look highly desired and accumulating more and more demand.[BANNER]
As nothing has been heard about Echo Metrix recently, the huge volume seems for real to be the only thing activating investor interest for the stock. The only recent news was a press release from the end of March that announced an alliance with a provider of mobile data to launch a “breakthrough parental control solution”. The innovative technology would enable monitoring text messages sent over mobile phones. This transparent PR could not, however, cause much more than the usual swaying up and down of the stock and keep it up for a while.
Echo Metrix, formerly known as SearchHelp Inc., offers software products, enabling parents to watch over their child’s computer activities. The Echo Metrix division was acquired two years ago and through it the company expanded the business model to offering content management and analysis of internet communications. This did not help the company to make a profit however, as last year revenues and gross profit margins were one third of 2008 values and losses continued growing.
Filed Under: Press Releases
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