Share of Agrieuro Corp (OTCBB:EURI) are up by more than 90 percent on a significant volume of more than 1.63M shares. Current EURI is trading at $0.4 with a market cap of 149.27M. As per OtcMarkets.com, as of Sep10, 2015, EURI has 750,000,000 authorized shares with outstanding Shares equaling to 256,000,000. So why is EURI surging?
There are couple of reasons that our research team were able to identify. Firstly, ActiveMarketInsider.com issued an email alert to all its members. Secondly, On October 20th, the company announced that they have been invited to join The Bio-Danubius Cluster. The Bio-Danubius Cluster essentially supports and promotes organic agriculture and superior raw materials.
As per the press release, very few companies in the world have been invited to join this group. The most important statement in the entire press release that may have caught attention from potential investors and traders could be “the company believes that this membership will help increase its revenues from the sale of its fish product”.
As per the company’s description “The Company’s flagship property is located at the junction of the Danube delta and the Black Sea and encompasses a variety of currently revenue-producing and soon-to-be producing businesses. It spans over 4,200 acres on a Unesco World Heritage site.”
However, their balance sheet speaks about a completely different story with no significant revenues as of Feb, 2015. http://www.otcmarkets.com/stock/EURI/financials#.
Check out more technical’s on EURI at http://www.barchart.com/quotes/stocks/EURI
Given the fact that EURI was barely trading prior today and average daily volumes were miniscule investors may want to be extra careful with this one.