Although the stock is nearly worthless at $0.0001 to $0.0002 per share, there has been a tremendous amount of volume in trading today when compared to normal.
In total, 420 million shares of the stock have traded hands, eclipsing the recent average volume of 39 million shares by leaps and bounds. Traders are hoping that the stock can break out of it’s $0.0001 to $0.0002 trading range today or later this week despite the fact that 420 million shares has yet to really move the needle much.
Earlier this month the company decided to create Series B preferred shares in exchange for a $5 million equity line with Premiere Venture Partners LLC. While shareholders do seem somewhat excited about this move, the stock price really has’t shown us much of a sign that the news will have much of an effect.
Today’s volume, however, is certainly something for shareholders to get mildly excited about, but when you are dealing with micro cap stocks like Monster Arts Inc (OTCMKTS:APPZ), which are trading at hundredths of a penny, it’s pretty hard to get excited about anything at all.
Monster Arts, Inc. is a development-stage company that is focused on tracking and data collection software for a number of industries, including health and wellness, family safety, culinary, and brain/memory training. The Company recently developed a drone tracking control system (DTCS), that enables drone operators as well as pilots to easily participate in a navigational tracking and monitoring system; receive a flight number, and their aircraft location would be tracked as part of a monitoring system that would be utilized by, local, state, and national air traffic authorities and controllers, in addition to the U.S. military, first responders and even law enforcement.