As soon as the news of Aquentium Inc. (AQNM) signing a joint venture agreement with Green Energy Systems Solutions, Inc., the stock price jumped. At 1:58pm, the diversified company made the announcement and AQNM stock price immediately reacted gaining 33.33% from 0.03 to 0.04. we have been speculating that something was ready to happen with the Company and appears to have been initiated with this being the first news since they announced entering into the lithium ion battery storage industry on July 6th.
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AQNM Stock Chart
Market Cap: $1,626,009 a/o Jul 23, 2012
Shares Outstanding: 46,457,403 a/o May 11, 2012
20 Day Percent Change: -36.36%
20 Day Moving Average: 0.0614
20 Day Average Volume: 406,002
According to the mid-day report, the terms for the joint venture make the Company responsible for the cost of all energy system designs, engineering, equipment and installations. Not a good way to start the “good news.” However, according to Aquentium President Mark Taggatz, the Company’s focus with Green Energy Systems Solutions will be commercial buildings and raw land that can be best utilized with solar energy or wind energy technology. The end goal in Puerto Rico is to help meet the island’s energy demand and also help lower energy costs for the citizens and residents.
Bottom Line: AQNM is a penny stock we feel could have a breakout session at any time. However, a smilar company, Juhl Wind Inc. (JUHL), provides similar services and gets no love at all from penny stock traders.
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