After starting the week off a bit rough and trying to brush off the scrub ref’s call from MNF, the trading action on Petrosonic Energy, Inc. (PSON) is exploding. Currently at the HOD, PSON stock is having a quiet rally session in spite of having been knocked back earlier in the week when SMA did not send out their expected notification. Regardless of the matter, traders are looking to buy on the dip of the expected hard mailer in hopes of an above a dollar price in the near term.
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PSON Stock Chart
Market Cap: 40.73M
Last: 0.63, up 0.13 (26.00%)
Volume: 286,563
Dollar Volume: $159,754
High: 0.63
Low: 0.50
Trades: 128
Average Trade Size: 2,238
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Today’s rally has been coming of the news of a signed cooperation agreement with a leading private emulsion tech firm that has an exclusive license in a heavy crude and asphaltene emulsification patented technology. Just last week, Petrosonic announced the award of an assembly contract to Pavli Valle Inc. for the final assembly, process engineering and fabrication of tanks and equipment for the Company’s heavy oil processing plant in Albania.
Art Agolli, CEO of Petrosonic Energy, Inc., stated: “The objective of our strategic relationship is to set up the emulsification plant at our heavy oil processing facility within the 4th Quarter of 2012 which is the same time as our time of completion of the assembly of our facility”. By that time, PSON will have already become a blur to traders looking to make a quick buck of off momentum, but might help to produce cheaper fuel if all the stars align.
About PSON Stock
Petrosonic Energy Inc. has developed a commercial process which improves heavy oil densities by 6 to 15 API1 from as low as 8 API, reduces viscosities of oil by 99% to pipeline specifications and reduces sulphur and heavy metals by over 50%. The Petrosonic heavy oil process will enable heavy sour oil (HSO) and bitumen (from most heavy oil and oil sands fields in the world) to be converted from nominally an API gravity of 8-14 degrees to a value-added synthetic crude oil of between 18 and 23 API.
Bottom Line: PSON is suspected to be the penny stock pick of SMA. If in fact it is, the trading activity f today will become a pittance of what confirmation day will be. Keep PSON stock on your list and watch how it trades on Friday’s afternoon session if you are looking for a bargain.
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