Activecare Inc. (OTC:ACAR) Will Trade Again on News and Promotions
Activecare Inc. ( OTC:ACAR ) opened the last trading session again with a gap up but this time the stock traded also the highest trading volume for the last six months. While yesterday ACAR traded under the impact of an announced acquisition, today there will also be new promotional coverage for the stock. Yesterday, ACAR closed the market with a 12% increase in the share price at $0.28 and the total number of traded shares for the day exceeded 281,000. That is in fact a six-month volume record for the illiquid stock and could be a good starting point for the new session today. A promotional e-mail on ACAR came into our database after the market had closed yesterday. The e-mail covers the company, talking about its technology and long-term potential and recommending traders to put it on their watch list for today. The disclaimer says the promoter expects to be paid $20,000 for the distribution of the advertisement. This is not the first promotion for ACAR, but the stock still remains very unpopular within the trading community. It has also been on a strong downtrend since the latest promotion in October last year. This time, ACAR has also announced news that sounds significant, but does not guarantee that ACAR would manage to hold the trading attention for longer than just a day. The company has signed a definitive agreement to acquire a technology company named 4G Biometrics through which ACAR hopes to expand its business and gain access to additional insurance or self-insured companies that could reimburse its products and services. At the same time, ACAR last financial statements reveal the company needs to raise cash first of all, having a working capital deficit of over $1 million and huge accumulated losses.