Inventergy Global Inc (NASDAQ:INVT) shares are soaring this morning, on absolutely no news from the company. Investors are hinting that this move is the result of a large pump made to promote the company.
Although we have not been able to officially confirm the paid promotion, Twitter user, IPHawk, this morning writes:
“Inventergy Global Inc (NASDAQ:INVT) paid promo. Got an email alert. $10,000 compensation. Disgusting. Compensated ten thousand dollars cash via bank wire by Star Media LLC for a 3 day investor relations campaign of INVT.”
If in fact this is the reason for the uptick, there could be some angry parties. Those long in the stock, however, definitely have the chance to make a good chunk of money on this action.
The stock is up 50.74% or $0.69, hitting $2.05 per share. About 60,568 shares traded hands. invt has risen 368.97% since May 26, 2015 and is uptrending. It has outperformed the S&P500 by 371.23%.
Inventergy Global, Inc. is an intellectual property investment and licensing company. The company has a market cap of $7.46 million. The Firm offers clients a professional corporate licensing model for IP value creation. It currently has negative earnings. The Company’s intellectual property primarily consists of asset portfolios it has acquired from clients for the purpose of monetizing such patents.