No News is Good News for SUTIMCo International (SUTI)

SUTIMCo International (OTC: SUTI) exploded in the penny stock market today, with huge gains in price and volume. The problem is that no one seems to know why. SUTIMCo, a multi-project business development company, has not released any news since the end of May 2012. Could a stock promotion be the cause of the sudden boom in its share price?

The company last made headlines on May 30, 2012, when it announced that it had begun evaluating four new projects for its Multimedia Business Unit. Just nine days earlier, the company announced its quarterly earnings for Q1 2012, which ended on March 31, 2012. The company posted net revenues of $465,000. Operating income was $241,000, compared to a loss of $407,000 recorded at the end of March 2011. However, net income was greater last year, at $415,000, compared to the $235,000 reported this year.

SUTIMCo International provides infrastructure and management services for technology companies through its subsidiary, SUTIMCo. Its goal is to grow small companies into larger, more attractive companies and then sell them. The company picks technology companies based on its foreseeable demand in the next 5-10 years. The company is currently reviewing 36 potential projects, all of which have the potential to do well by 2015.

The company has proprietary methods of choosing technology companies and finding ways to bring the values of these companies to more than $200 million within five years. The company uses the business model of people, systems, technology and money to achieve success.

SUTIMCo International’s stock closed at $0.0076 last night and opened at $0.007 this morning. It rose as high as $0.0399 before closing at $0.023, posting an increase of more than a penny, or a whopping 202% increase. The stock has been experiencing up-and-down activity since May 18, 2012, when the stock closed at $0.18. However, that number is still well below the 52-week high of $1.0448, which was achieved nearly a year ago.

Volume surged today as well. Compared to its daily average of 802,458 shares traded, today’s volume exceeded 26 million shares, posting a new 52-week high. July 10, 2012, held the previous record, with volume of more than six million shares. Volume for the stock has exceeded the one-million share mark every trading day for the past week.

Penny stock newsletters briefly promoted SUTIMCo in May and June 2012. It has certainly gained the attention of many newsletters and stock websites after its activity today. It has been touted as the micro-cap stock of the day. However, investors are probably scratching their heads as to why the company made such an impact in the stock market today. There has been no recent news about the company, but as the old saying goes, “No news is good news.”

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Published by Lisa Ray

Lisa has a Bachelor of Arts in journalism from Purdue University and 3 years of experience in the publishing field.