Today could be highest volume day ever!!!Huge volume on huge movement. Why?
Today's run-up appears to be based on expectations of something great on two fronts: significant upwards revenue and earnings spike (given removal of previous management), and substantial cash settlement (with previous management and others).
According to some, this settlement has the potential to return $12 million to company coffers(or over 0.30/sh--based on about 38 mil. sh. outstanding).
I would think that, if Fareport receives .30/sh in settlement, the share price should end up somewhere north of there, say .35-.40/sh. That is seven to eight times the present level.
If we only get the expected great earnings report (see previous poster), then maybe .08-.12/sh would be more realistic for the immediate future (until a longer term trend of positive earnings is established).
At least this is my guess as to why the huge momentum today. The market could be wrong on both these counts.
Time will tell. I expect a news release after trading closes today.