Sauer Energy, Inc. (OTCMKTS:SENY) Retreats After Spike
After the stock of Sauer Energy, Inc. (OTCMKTS:SENY) charted a huge spike on Wednesday, closing nearly 80% up on the biggest share volume for the last 52 weeks, yesterday’s session brought more or less anticipated correction. SENY closed over 11% down, stopping at $0.19 per share.
The initial jump that happened two days ago is still something of a mystery. The company had not executed any significant PR stunts barring a press release from the same day and its contents seemed insufficient to trigger such volume frenzy.
SENY announced it had plans to produce additional models of its WindCharger systems. The new designs should offer an extended range of configuration options to better suit customer needs and the company stated it’s gearing up for ‘expanded production’. This announcement seems to be the only detectable trigger than caused the volume and price spike. Luckily, there were no current pump campaigns targeting SENY that we could find.
Those curious about where SENY stands in terms of financials could take a look at their most recent quarterly report for the period ending May this year, as their fiscal year’s end is in August. Here;s a brief rundown of the numbers posted:
- $50 thousand in cash
- $328 thousand in current liabilities
- ZERO in revenues since inception
- $170 thousand in quarterly net loss
On the bright side, net loss is relatively modest and liabilities have not piled up into a mountain. However, SENY has not generated a dime of revenues yet and its cash does not really place it in a comfortable position. Yesterday’s session did not really hurt a great number of people who bought during the climb but further correction could cause more significant losses, so caution is advised.
SENY is currently another 9% down in early trading
Other stocks that held investors’ attention in yesterday’s session include Globalstar, Inc. (OTCMKTS:GSAT) who topped the dollar volume charts on the OTC, moving over 16 million shares and closing over 6% up. North American Oil & Gas Corp. (OTCBB:NAMG) managed to close 16% up, stopping at $1.05 per share.