Eline Entertainment Group (EEGI.PK)finished the day as the 10th highest percentage mover of all pink sheets penny stocks. However, all 9 stocks that finished above EEGI, had inconsequential volume in a best case scenario.
This leads us to believe that EEGI could be added to a few penny stock lists in the near future. EEGI finished Monday up 350%, and spectacular one day returns like today’s often draw buyers into the pre-market and cause gap up scenarios. Are we alerting our subscribers to partake in this trade ? No, not at this time, it’s still too early to tell.
EEGI is a two part company, consisting of Let the Good Times Roll and Vu365. Let the Good Times Roll is a luxury transportation division and Vu365 is video game designing company based in China.
Now you have to ask yourself one question. Are livery and video games a good match for a proper business model ? Probably not. However, this doesn’t mean EEGI can’t turn into a quality trading vehicle. In other words it’s no secret that today’s buyers were probably not buying EEGI today because of the management team, the product or the underlying fundamentals.
EEGI Expecting Cash Infusion
My sense tells me that today’s move in EEGI was pre-promotion related. Mainly because there has been little volume until today. There also have been no current press releases. The last PR was on April 18,2011, which let shareholders know that Let the Good Times Roll obtained a permit to operate at Tampa’s International Airport. Now that isn’t fluff, I don’t know what is. It doesn’t exactly take an act of Congress for a limo company to operate at airports.
There isn’t much to say about the fundamentals either. There hasn’t been an SEC filing since December 6, 2010. Now maybe it could be true that EEGI is getting a cash infusion. That could be today’s cause for the upside explosion. But only time will tell whether today’s move was just a one day blip or a precursor to a promotion.
For now, stay tuned for EEGI updates and add this name to your penny stock list.
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