Penny Stock Ascent Solar Technologies (NASDAQ: ASTI), an alternative energy company focused on commercializing flexible photovoltaic (PV) modules using its proprietary technology in the solar energy sector, closed Friday up 2.85% (+0.02) at $0.82. The growth in China has propelled this stock into positive territory since the end of December, 2011. Yes, the negativity toward China is everywhere. Financial negativity. Political negativity. Economic negativity. Even though this message is being proclaimed daily, both on the financial and political TV shows, ASTI has gained 56.60% since December 23, 2011.
ASTI appointed a new CEO this week who is going to be working for free, Victor Lee. Lee was previously the Executive Director of ASTI’s largest shareholder (41%), TFG Radiant. According to the recent SEC 8K filed; Mr. Lee will not receive any cash, equity or other compensation from the Company. Mr. Lee will not be entitled to any severance or change of control payments from the Company. The Company has agreed to reimburse Mr. Lee, who is based in Singapore, for his reasonable documented housing and travel expenses when he is in the Denver, Colorado area.
ASTI is trading -77.75% below its 52-week high of $3.73 and 130.56% above its 52-week low of $0.36.
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