Press Ventures, Inc. (OTCBB:PVEN) Got a Volume Surge out of the Blue, Again
For no apparent reason, Press Ventures, Inc. (OTCBB:PVEN) recorded another huge volume session last Friday.
It was shaping up to be another snooze fest for PVEN with sporadic small transactions and minimal price movements, until about 2 p.m. when the price slipped below $0.13 and a few huge volume transactions were made.
After that, PVEN swiftly bounced and eventually closed up 9.70% at $0.147 per share. The volume reached approximately 10.8 million shares.
There doesn’t seem to be anything which could have caused the big volume transactions, other than the price dip, and that isn’t a particularly convincing explanation, since PVEN was trading lower earlier last week.
The company hasn’t issued any press releases since last Monday. Additionally, PVEN hasn’t filed anything with the SEC for more than a month. There aren’t even any recent paid pumps as far as we can tell.
Early September, there were some rumors PVEN was going to be one of Awesome Penny Stocks’ (APS) picks, and that’s what caused the surge back then. It later became clear that wasn’t the case and APS went with PacWest Equities Ltd (OTCMKTS:PWEI) followed by Pacific Clean Water Technologies, Inc. (OTCMKTS:PCWT). Both got suspended, so it seems APS not pumping PVEN may have been a good thing.
It will be interesting to see how PVEN will perform in the coming days, and whether some reasonable explanation pops up.