InterCore Energy (OTC: ICOR) closed in the red today after announcing that it had formalized management incentives. The stock dropped nearly 9% in share price, and finished today’s trading session at $0.0610. With this result, InterCore Energy has traded to a new all-time low share price. Volume of the stock, however, surged to a total of 2.12 million shares, bypassing its average of 23,235 shares.
The volume surge of InterCore Energy may be linked to the fact that the stock has now fallen deeper, and investors may see bounce potential in the stock. InterCore Energy has declined a total of 69.5% in share price since New Year’s Day. The stock declined sharply on July 12 and 13, 2012, and has dropped further since then.
The volume surge of InterCore Energy may also be linked to the stock’s recent promotion, today in particular. On Twitter, @pennystock24 mentioned that Penny Stock Wizards and Stock Blaster, among others, promoted InterCore Energy today. There are 12 results found on stockpromoter.com that are related to the promotion of InterCore Energy. BlueWave Advisors and Stock Preacher have both promoted InterCore Energy, and both promoters were compensated $20,000.
Recent headlines for InterCore may also explain its stock performance:
- Today, July 23, 2012: InterCore Energy announced that its Board of Directors adopted a resolution granting warrants to the company’s senior management team.
- July 20, 2012: InterCore Energy announced that it has completed its first supply chain partner agreement with BioDimensions Delta BioRenewables of Memphis, TN, in its program to advance Ethanol 2.0™ toward commercial reality.
- July 18, 2012: InterCore Energy announced that it has entered into a non-binding letter of intent to acquire the Legacy Group of companies. If completed, the acquisition of the Legacy Group will reinforce InterCore Energy’s focus on clean energy technologies. The parties are currently planning to close the acquisition in September 2012.
InterCore Energy, formerly Heartland Bridge Capital, focuses on investments and acquisition opportunities, primarily in products and companies involved in the market segments of clean and renewable energy, medical technology, nanotechnology and environmentally-friendly (green) waste management.
The company competes with P&G, O.B., Playtex and Kimberly-Clark.
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