While the bears have taken over WallStreet, a small cap company is breaking all inhibitions attracting massive volume and surging like no tomorrow. The company in focus is Cloudweb, Inc (OTCBB:CLOW) with cash and cash equivalents of $52,890, total current assets of $63 thousand and total current liabilities of about $147 thousand. Shares of Cloudweb, Inc (OTCBB:CLOW) have more than doubled in today’s trading session. Thanks to a marketing campaign initiated by ActiveMarketInsider.com that has sent the share prices into frenzy.
Cloudweb, Inc (OTCBB:CLOW) is currently trading at $0.649 a staggering 109% from its previous day’s close. The only news that was released by the company was on January 28, 2016, wherein the company had entered into a Share Exchange Agreement with Liao Zhi De, an individual residing in China. As per the press release, Cloudweb issued 2,500,000 shares of its common stock in exchange for 100% of the issued and outstanding equity interests of Data Cloud Inc., a Nevada corporation (“Data Cloud”). Interestingly, Liao Zhi De is the only executive officer and sole member of the Board of Directors of Cloudweb and controls approximately 81% of Cloudweb’s issued and outstanding shares of common stock.
Here is the chart for Cloudweb (OTCBB:CLOW). The volume started to pick up early in the week with share prices appreciating as much as 650 percent. Do the financial numbers justify the current price action ? As always, follow extreme caution when trading such companies.