MTVX spiked on big volume but pulled back. Will it keep going?
Shares of APT Moto Vox Group spiked in Thursday’s session. MTVX closed at .0009 up38.46%. Volume was more than 2.6 billion shares. Trading ranged from the open at .0007 to the high of .0016 as buyers continue to drive the stock higher. However, the stock could not hold the gains.
What is driving the gains?
MTVX didn’t have news, so what is going on?
If we go to OTCMarkets.com we see that MTVX is listed as defunct. It has a stop sign, a warning to investors that the designer and manufacturer of motorcycles may not be revealing material information to the public.
If we look at the financial page, the last financial statements date back to 2013.
In the disclosures tab on OTCMarkets, MTVX last filed FORM 15-12G; i.e., “Termination of Registration of a Class of Security under Section 12(g)”.
MTVX appears to be at the helm of the latest mystery where defunct stocks are gaining momentum without any specific news. Though few technical indicators favor MTVX. The latest upward movement of MTVX suggests it could breach its potential pivot points of 0.00091 0.00093 and 0.00096 above.