Novint Technologies Inc. (OTCBB: NVNT) Breaks Out After the Year’s Bottom


Novint Technologies Inc. (OTCBB: NVNT) continues its flight up with a 22.85% increase after yesterday’s closing price of $0.22 per share. Almost nothing has been heard about the company recently and the unexpected break out is probably the result of speculation.

After hitting the absolute 52-week bottom of $0,06 on March 18, Novint Technologies jumped surprisingly high about a week later. It is hard to find adequate reasons for the enormous demand and the sudden interest by investors.

NovintPicture.jpgThe most recent information relating to Novint Technologies were some announcements of beneficial ownership, in which can be seen that several investment advisers and funds have been holding part of the company’s stock. The real drop in the stock’s price started shortly after Gruber and McBaine Capital Management, LLC. announced having ceased to be the beneficial owner of more than five percent of the company. The market might have perceived the news as a signal of investment funds and brokers selling out their shares, leading the stock to the bottom, and then to the top again, as someone needs to cover short positions.[BANNER]

The latest press release from the company’s side announcing some kind of positive news ,dates back to the end of November 2009. The last disclosure of financial reports is also

Filed Under: Press Releases


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