Traders finally got a taste of verde from the penny stock of Eco-Tek Group Inc. (ETEK) on Monday after the Company announced a marketing deal with Prieto Topo Grafia in Peru. Gaining as much as 22.58% on the day. ETEK stock saw the beginning of a strong week ahead in terms of volume. With a large number of awareness groups making sure that trades take notice to the revenue reporting, exclusive distributor of Eco-Tek Bypass And Magnetic Oil Filtration For Trucks in North America, Monday’s gains may not be all she wrote.
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ETEK Stock Quote
Market Cap: 93.05M
Monday Close: 0.371 ▲ +0.101 (+37.41%)
Dollar Volume: $423,701
Issued and Outstanding: 251,153,133
14-Day Rel Strength: 56.72%
14-Day Stochastic: 80.67%
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News on Monday from Eco-Tek Group indicated that at least $50,000 worth of the Company’s bypass system products during each 12 month period of the agreement. While Stephen W. Tunks, the new CEO of the Company since May 29, 2013, thinks the Peruvian based group will buy more than that amount during the time period, it’s best not to count your pollos until they hatch.
Tunks is due to get $5,000 per month, 5% of any profits generated by the Company on a monthly basis, commissions at the Company’s posted rates for Sales Agents and a 1% override on all revenue produced by the Company. The $50,000 deal would net Tunks a whopping $500 override if the deal pans out.
As for ETEK stock, we already covered that one a couple times in detail. Having Greg Ray as an endorser of the Company’s products is a bonus no doubt, but the ties to other well performing penny stocks makes a week long push a given. Thy did drop the price significantly as we sad would be best suited for traders to have a chance of making money on ETEK stock and this will be the week to do so.
About ETEK Stock
Eco-Tek Group Inc. is a development stage company dedicated to the development and marketing of innovative and cost effective “green” products to the automotive and industrial sectors.
Click here to view the SEC filings for ETEK.
Click here to view the website for Eco-Tek Worldwide.
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Monday was the launch day for ETEK and today has a large number of D-listers putting the ticker in front of their subscriber base. Make no mistake, ETEK stock is no ECAU by any means, but a chance to see another 20-30% on top of Monday’s gains is quite likely. Have a look pre-market for another gap open before deleting it from your list of penny stocks to watch tomorrow. There should be a big dip at some point tomorrow making this a loading up point.
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