Ingen Technologies Retreats After Reaching New Highs (IGNT)

Ingen Technologies (OTC: IGNT) stock retreated today, falling a dreadful 59.2% to a share price of $0.02. Volume of the stock also tanked to 971,869 shares, comparing with its recent volume accumulation. Despite this result, Ingen Technologies has a total gain of 300% in share price since the start of 2012.

Yesterday, Ingen staged respectable rally on a second consecutive day, rising 25.6% to a share price of $0.049, with 1.88 million shares exchanging hands.

With the result yesterday, Ingen set a few new highs: the opening price $0.06 of Ingen Technologies yesterday is the stock’s highest share price in 52 weeks; the closing price of $0.049 is the stock’s year-to-date highest closing price.

Ingen Technologies has been promoted by a number of newsletters. There are 60 results found on stockpromoters.com regarding the promotion of Ingen Technologies, which may include duplicate entries. Elite OTC and Best Top Penny Stocks promoted Ingen Technologies yesterday, while neither of the parties are expected to be compensated.

Yesterday, July 10, 2012, Ingen Technologies announced that the company is continuing with preparations for a national distribution program and moving forward with a leading national medical supplier for the home healthcare and hospital markets.

Yesterday’s news announcement of Ingen Technologies is also linked to the company’s previous press releases:

  • June 26, 2012: Ingen announced that it was preparing for a national distribution program, and placed its Oxyview product line with a leading national medical supplier for the home healthcare and hospital markets.
  • June 19, 2012: Ingen announced that the company was standing at a key turning point in its history after having developed a unique solution to a growing problem in the $8 billion per year medical respiratory market. Ingen Technologies is positioning itself to be a global player in the months ahead.
  • June 12, 2012: Ingen announced that major home healthcare providers and oxygen service providers had made substantial product orders and would debut the Oxyview® product line on their websites while they are seeking to capitalize on the booming aging population and the increase in home healthcare services.
  • May 30, 2012: Ingen announced that it agreed to execute a Plan of Reorganization that would include reductions in debt and liabilities, various merger/acquisition proposals, new medical product distribution programs and finally, moving the company from the OTC Pinksheets to a fully reporting company listed on the OTC Markets QX exchange.

Ingen Technologies was incorporated in 1995. It is a medical device manufacturer. The company develops, markets and distributes medical products, with applications in the respiratory device industry. Its primary product is its Oxyview line of products.

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Published by Fiona Gibson

Fiona is a finance graduate and an expert in analyzing market trends.

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