Yesterday, the rally in the Eco-Tek Group Inc (OTCMKTS:ETEK) must have come as a source of surprise for most customers considering the fact that there was no material news about the company at all. However, investors continued to pile on to the stock undeterred and the Eco-Tek stock ended the day with gains of as much as 145%.
In addition to that, the trading volumes in the stock were also very high and that suggests a certain degree of frenzied activity in the Eco-Tek stock. In the absence of any news, investors could do well to take a look at the company’s business and then make up their minds.
The company is engaged in the manufacturing and distribution of filtration systems, synthetic lubricants and other associated products in the North American market. The products are marketed and sold under the Eco-Tek brand.
The company uses both independent sales agents as well as distributors in order to facilitate the sales of its products. In addition to that, oil change businesses and auto centers are also used as conduits for distributing its products. It might be a good move from investors to keep an eye on the stock this morning and watch if it records further gains.
