Shares of Great Wall Builders (OTC: GWBU) sputtered through another day, finishing the trading session less than a penny from where it ended yesterday. Volume on the day came in at 6.8 million shares, or about 1.5 million less than its average daily volume since it began actively trading in late April.
The stock opened this morning unchanged at $0.167, which also printed as the high for the day. The price per share stayed in a two-cent range during the day with a low trade of $0.141 recorded during the New York lunch hour. Volume was distributed fairly evenly throughout the session. The final trade of the afternoon took place at a price of $$0.16.
Trading in Great Wall Builders over the last 90 days looks like a scene out of Close Encounters of the Third Kind. The stock started May at a price of $0.50 and soared to a high of $1.95 in 30 days. After leveling off for a few weeks, share prices plummeted abruptly to a low of $0.0867.
Great Wall Builders owns the manufacturing and distribution rights to an aftermarket device that enhances the combustibility of gasoline or diesel fuel for internal combustion engines, which could be a handy thing to have when fuel prices soar. The company is based in Bologna, Italy. Could the location of its headquarters have a possible tie to the recent dive in share prices considering all the problems surfacing in Europe and Italy? Is part of the fortunes of the company tied to the falling euro? And how much do traders’ interest in the stock correlate with the price of gasoline, which has taken a little dive lately? Some interesting questions traders will be pondering in the weeks to come.
A week ago the company announced a successful field test on the Start Fuel Efficiency and Efficiency Device technology. Coopertiva Transporti di Riolo conducted the test and ordered an additional 100 units to be delivered in the next four weeks; the cost per unit is 1125 euros.
Toward the end of June, several promoters that included Penny Stock 123, Stock Digest Report, and Stock Haven were touting the stock. Only Penny Stocks 123 expected to be compensated. The flurry of newsletter activity coincided with a pop in the stock as it climbed back above $0.25.
The dramatic rise and fall in the stock since May must have traders wondering what the coming days will bring. Does the retreat from a recent peak of $0.25 suggest another downturn to possibly new lows? Does a decrease in volume at these levels mean sellers have little energy? And does the strife in Europe play a part in it all?
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