On Apr. 1, Anything Technologies Media Inc. (PINK:EXMT) opened with a gap up at $0.08 and had a record volume of 345 thousand shares, only to drop back and close at $0.064.
The performance was a surprise for some traders, or at least seemed unprovoked. However, EXMT appeared in this newsletter, on Mar. 31. While no money was paid for the promotion, the same promoter was compensated 150 thousand free trading shares for the services. This compensation could also explain some of the selling that followed the gap up open.
Other than the promotion, there doesn't seem to be a reason for what happened on Friday. The company hasn't made any recent announcements, and the latest financial report was published on Mar. 17.
Not everyone is happy with EXMT, and some even go further. While that particular post is from 2007, it mentions the name of Arshad Shah, who is currently the President and Director of the company. This page also suggests the EXMT appeared in a suspicious email campaign back in the days.
At present, however, Anything Technologies Media, Inc. claims to have launched a "Green Technology" product for the DVD media market. If EXMT manages to convince investors in its potential, it could do more than gap up and drop.
A market cap of $2,6 million suggests traders may not believe everything EXMT announces or reports. With two Cease Trade Orders and three reverse splits in its past, the company will have to do something really significant to gain more credibility.