Saturday, August 24, 2013

Etika International: Possible big announcement

The share price of Etika cleared the 45 cents level, some 12.5% above its long time plateau of 40 cents, in a week mark by general market weakness. The graph above tells us two possibilities. One, it could be that the price is being pumped up before insiders cash in their options, or worse, a possible dilutive share issue. The cashing in of options has happened a few times although the price increase has not been that significant. Or two, it could be that there is a big announcement of either acquisition or buy in from a big player. These are speculation on my part but it is backed up by strong interest in the counter. I am invested in Etika so I naturally hope that it is positive news that will be announced some time next week. 

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