At times, one could read a press release and wonder why the underlying stock isn’t moving around more drastically based on the news provided. That’s exactly what happened to Alternet Systems Inc. (OTC-PNK:ALYI) this past Friday as the micro cap company’s electric motorcycle segment announced the launch of its third design of the revolutionary two-wheeled electric vehicle (EV). While the stock seemed to lag a little following the news, today’s mid-day pop makes you wonder if traders just needed time to consider the potential outcomes of this new announcement.
Though today’s move could be partially attributed to the overall bullish momentum that the EV industry has seen in recent weeks, one shouldn’t discount the potential growth behind the electric motorcycle portion of this business. Even though we discussed this company just last week in a separate segment, I believe that with yet another announcement from management, it is worth revisiting the stock.
Traders seemed to be in a buying frenzy over shares of this Dallas-based company, driving prices up to $0.0142/share (+35.2%) at the intraday highs. This move thrusted the price over the 50-day SMA in hopes to breakout of range the stock has been in since October.
