After nearly 2 months of slowly trickling upticks daily and remaining relatively quiet about doing it, the penny stock of Quest Water Global Inc. (QWTR) opened the faucet Tuesday in a big way. Gaining, since the start of September, as much as 1,740% at yesterday’s HOD, QWTR stock became a sensation for traders allowing them to book an average of 30% gains before they could even think about what they wanted for lunch. Despite the total lack of cash on their last Q filing, the Company announced plans to manufacture their AQUAtap™, Community Drinking Water Station, and WEPS™, Water Extraction and Purification System for a group in Baja California making the kool-aid palatable for the time being.
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QWTR Stock Quote
Market Cap: 28.96M
Last: 0.34 ▲ +0.07 (25.93%)
Dollar Volume: $325,468
Issued and Outstanding: 85,182,360
14-Day Rel Strength: 81.27%
1st Resistance Point: 0.4483
1st Support Level: 0.2433
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Started back in January of last year, Quest Water Global took over the shell corp of RPM Dental, Inc. by issuing 51,369,860 shares which were valued at $677,000. Immediately, the Company raised $599,500 by entering into a private offering of 2,398,000 shares of QWTR stock and warrants to purchase an equal amount of common stock at at a per share exercise price of $0.50. The deal works out to be $0.25 per share.
Since that time, Quest Water Global remained dormant as John Balanko, President and CEO, and Peter Miele, Vice President, CFO and Secretary, consistently late filed their required documentation with the SEC. There were simply no financial means available for the Company to hit Angola with their AQUAtap or WEPS technology since their targeted $745,000 to implement the system simply wasn’t there.
Regardless of the lack of operations and sustainable cash flow, September kicked off the run QWTR stock is on after issuing their first PR of the year. The news was that the Company was working towards a final agreement with the Angolan government, specifically the Ministry of Industry and the Ministry of Energy & Water, to get their idea of a clean, drinkable water supply into their country.
Tuesday though was a shocking revelation for traders who had been squatting on QWTR shares for just over a month now. After averaging less than 250,000 shares traded on their best sessions since the start of the run, QWTR stock exploded, with virtually all of the activity coming prior to 11am allowing atleast 1 trader who we chatted to about the solar-powered water purification technology company locking in gains of over 1,500% on a trade which started out with just $500.
Seeing as how the volume has been so low for the past 6 weeks up until yesterday, locking in on QWTR stock at over 0.20 could be a big mistake. There are plenty of shares still able to flood the market with and a pull back is guaranteed after trying to surpass $0.50 came up short.
About QWTR Stock
Quest Water Global, Inc. is a development stage, innovative water technology company that is focused on one day providing solutions to water scarce regions.
Last 5 Trading Sessions:
Without any aggressive awareness like WTER has had since August, the sudden surge on QWTR is definitely eye catching for penny stock traders. However, too many key ingredients such as “Angola,” “$0 cash balance” and “Vancouver” all ring alarm bells for QWTR making it a risky move at anything more than a flip from the low 20’s or high teens when the drain gets pulled on this recent run.
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