Today, May 7, was a great day for the VLNC stock price! Up 49 cents to $3.80 on a share volume of 512M.
The uptrend actually started in December 2002, reaching a high closing of $2.32 on Dec 6, 2002. The year-end loss sales or "wash sales" drove the price lower as low as $1.30 on Dec 31, 2002. Most wash sales returned back to the market about mid-January driving the price up from $1.20 (Jan 08) to $2.09 (Jan 13). The uptrend continued during January and February when investors had a chance to hear about the large format backup power module and the quarterly conference call reporting moderate sales from N-charge.
The company guidance for the last qtr $1MM (at least), mostly from N-charge sales. Since then, the news about Best Buy selling N-charge and the introduction of K-Charge 1 Kwh(?), testing by OEM's like Tyco Electronics, Electric Vehicle, USABC, etc. must have been the fuel for the continued uptrend, starting with March 26 trading of 515M shares. Although last Friday was remarkable with a closing price of $3.49, the resistance at $3.50 was already touched briefly as intraday high on April 11, with an incredible volume of 1.5MM shares traded and $3.51 on May 02 with a volume of 713M shares traded. Last Tuesday, April 29, was a remarkable day for the stock price - a fierce battle between bulls and bears. The bulls finally overcame the bears and closed at $3.32. The battle continued until last Friday when the bulls managed to close at $3.49.
This week we had to listen to Greenspan on Tuesday. Now that we are sure that the interest rate is likely to remain low - longer than expected.
Today the market drives up the stock price to $3.80 (49 cents gain) with 512M shares. The slow and steady uptrend with "nickel and dime" moves on a daily basis is not bad as long as the uptrend continues. As the trend continues it "takes out" the skeptical longs, brings new buyers and builds new confidence in VLNC potential. jmo. Ram |
