Fuse Science (OTC: DROP) announced today the company had partnered with the Florida Panthers of the National Hockey League to supply the reigning 2012 Southeast Division Champions with its energy products. Michael R. Yomark, President of Florida Panthers, said in a statement, “Fuse Science is a very strong, emerging company with incredible technology.”
The news provided a boost of energy to traders as they exchanged over 4.3 million shares on the day, which tripled the average daily volume of 1.46 million. Buyers in particular appeared to get an extra kick this morning when they chased share prices up over 40% in the first few hours of trading. The stock steadily climbed throughout the morning from an opening low of $0.10 to an intraday high print at $0.14. After exchanging shares at a brisk pace in the opening hours of the session, traders settled down for a lazy afternoon as volume labored and share prices slowly floated with little fluctuation. The stock ended the day with a gain of 35% to close up over three cents at $0.135.
Buyers, however, have yet to regain their endurance since they ran share prices to an annual high of $1.25 last December. The stock has staggered for the last eight months and dropped to a 52-week low a few days ago when the stock traded for $0.08.
The recent endorsement by the Florida Panthers is the latest in a summer series of athletes getting energized by Fuse Science products. Within the last two weeks the company has also announced boxing champ and Olympic gold medalist Andre Ward plus New York Knicks center Tyson Chandler joining the ranks of Fuse Science endorsees.
In early July, Fuse Science hit a triple when Tiger Woods won the AT&T National, Paul Rodriguez took the X-Games gold, and David Ortiz was selected to start for the American League in the All-Star game. Tiger commented, “This is a great weekend for our Power By Fuse Team.” However, traders are left to wonder when the stock will hit pay dirt. While the company has rung up endorsements this summer, the stock has been getting clocked.
Two days ago, XtremePicks touted its pick of Fuse Science as a winning trade. The latest newsletter highlights for Fuse Science can be read on Stockreads.com. Stock promoters have been mute since early March on the stock. A total of 13 promotions can be viewed on Stockpromoters.com. The move in Fuse Science today certainly stimulated some chatter on Twitter. @OTCStockPicks1 took note of the gains and the volume surge and @AdolpheCash reiterated the news from the morning.
Fuse Science develops and maintains the rights to sublingual and transdermal delivery systems to efficiently introduce vitamins, minerals and medicines directly into the bloodstream. The company, formerly know as Double Eagle Holdings, was founded in 1985 and is located in Miami Lakes, Florida.
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