New York, NY – (NISMAGAZINE) –08/23/2013- ORIENS TRAVEL & HOTE (OTCMKTS:OTHM) leapt 15.38% at $0.0015 after trading 140.23 million shares, which was significantly higher than its average daily volume of 33.09 million shares. The company engages in the operation of hotels and resorts primarily in the United States and Central America under the Hotel PURE brand. The company also operates Friendly Reservations Online, a proprietary and sophisticated online booking system. Earlier this month the company announced it was considering a huge merger and acquisition opportunity and that it could raise $10 million as capital infusions for funding such a deal. According to the management, the deal could deliver as much as $30 million in terms of assets and immediate cash flows. Investors may note however, that company’s OTC quote page carries a ‘Limited Information’ warning and no financial information is available. On the daily chart the stock is moving sideways though yesterday was different – it made an abortive bid to cross the 200-day moving average but immediately faced investor selling.
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Organovo Holdings Inc (NYSEMKT:ONVO) slumped 5.8% at $5.52 after trading 2.52 million shares. Yesterday’s trading followed in the bearish footsteps of the previous session that had clearly signaled further downside. Bears are firmly in the driver’s seat in the stock, but we could see support emerge in the range of $5.20 in the vicinity of the 50-day moving average.
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