EMAMBA INTERNATIONAL CORP (EMBA) Falls Off
Shares of EMAMBA INTERNATIONAL CORP (PINK:EMBA) are selling off this morning on profit booking as EMBA stock had jumped over 60% in yesterday’s session.
This morning EMBA stock opened lower by 14.61% to $0.35 with more than 1.91 million shares traded so far, compared to its average volume of 245K shares.
On Monday, shares of EMAMBA INTERNATIONAL CORP soared over 60% and closed very near to day high on hefty volume of 7.36 million shares.
Yesterday, EMBA started trading on the stock exchange with the new name eMamba International Corporation, replacing its previous name of Wave Technology Group Inc.
The decision was effective following an acquisition of eMamba Inc.
However, is the change in the name of EMBA is so important that traders/investors are rushing to buy the shares.
EMBA Selling Off
This morning, EMBA said that it has appointed Glen Huang as the president of the company from now onwards.
Shares of EMBA had been very illiquid stocks with no trading had been done since May and majority of the trading started since yesterday.
Over the past 52 week, the stock had been moving as high as $0.98 and as low as $0.01. EMBA has a market capitalization of $19.30K.
Under the new business, EMAMBA INTERNATIONAL CORP would be engaged in providing software to manufacturers, which would help them in controlling their customer service.
Although we have seen strong volume activities into the stock, but it would be pre-mature to take a buy call on EMBA stock at current market price in absence of further details about the company’s plan under new business.
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