Today shares of SW Innovative Holdings (OTCMKTS: SWHI) are soaring on huge volume on the US OTC market. The stock has done well with over 41 million shares of trading volume today and it isn’t even noon yet. This buying volume has already driven the stock up over 51% this morning.
This type of action gets the attention of stock traders with computer software that tracks the financial markets as I am doing. As you can see from the chart this price action seems to have come out of nowhere.
The stock only has a market cap of roughly $750,000 going by the data available on main financial websites. The company itself is a holding company for a small phone operation in Texas that runs the website www.everybodysphonecompany.com.
Should you buy the stock?
The situation appears very murky to me. There is no news that explains the price move and the company has a twitter account that last made a post in January of 2019. That tweet is about a previous stock move that apparently many people found mysterious at the time:
$SWHI = INTEGRITY. Pleased to confirm that the enormous 211 Million share trading volume on January 10, 2019 did not arise from undisclosed dilution. We welcome our new shareholders and look forward to building momentum together. Official Report: https://t.co/fTpdt1E7dS pic.twitter.com/xEpQD2Bx3v
— SW Innovative Holdings, Inc. (@HoldingsSw) January 11, 2019
Some accounts on twitter are making tweets to explain the move though today such as this one:
$SWHI Just spoke to Jerome Cliche the VP of Next Dynamics Corp & he confirmed TX SOS filing “Name change from SW Innovative Holdings, Inc to Next Dynamics Corp.
— TheBull© (@TheBull_Stocks) January 15, 2020
He couldn’t give any further details at this time.
Public announcement expected!https://t.co/56pTwXJOPp
That tweet is a rumor, but if it is true this is a classic “reverse merger” move that happens in the penny stock world where one company goes public by buying what has basically become a stock shell. I have no idea what the earnings are for Next Dynamics or if it even has any revenue. To me its another mystery company leasing space out of this building in Houston.
The stock action gets attention, but I need more to believe in something enough to buy it. For more updates subscribe to my free email list by clicking here.
-Mike
