SAVW Update – Deadcat Bounce or Not ?
Savwatt USA (SAVW:OB) was once a super hot penny stock, but
the share price of the green friendly lighting company is sort of telling investors another story right now.
There have been savvy PR’s regarding SAVW’s LED streetlights and the environmental and economic benefits that this product potentially provides. But why has this stock been such a dog lately ? SAVW traded as high as .10 cents this year and has a sizable message board following, especially on IHUB.
Savwatt SAVW at Clean Energy Summit
SAVW is even appearing at the Maryland Clean Energy Summit with large cap companies like General Motors, Lockheed and Honeywell on August 25th. On the surface this seems like a solid move for the floundering penny stock, and the conference can potentially create a small buzz with SAVW traders as it gets closer. But what was management thinking when they announced last week that they would be late with their quarterly filing ?
Now at PSE, we try to follow various, and sometimes obscure situations, and these range from large caps, to IPO’s and penny stocks. Many penny stocks neglect to maintain proper filings and despite SAVW being up more than 5% at the time of this entry, shares have suffered recently. However, despite the recent dilution in SAVW there is an opportunity for a short term pop when the quarterly is actually filed. So despite the negativity, add SAVW to your penny stock list, as the interest from sub penny traders grows. Just remember that even from these levels, SAVW could easily drop another 30 or 40% if they don’t get there act together.
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