MDWerks, Inc. (OTCMKTS:MDWK) was in special limelight on Thursday as the stock made a big move on unusual volume. Moreover, the stock made a new high in the previous trading session.
MDWK stock closed higher by 520% to $0.0620 and made a new high of $0.1405. What is more interesting is that the stock had witnessed its highest one-day volume at least in the past year. Total volume for the session stood at 4.18 million shares, compared to its average volume of 67k shares.
So what triggered such a big move? Well, there was no news and as we all know penny stocks often do need news to trigger a big move.
But, one should note that the company does not have any active official website, and one needs to be careful while trading momentum-driven penny stocks. At March 31, 2021, the Company was not engaged in continued business. There is minimal historical operational information about us on which to base an valuation of our performance. Total expenses in the three month period ended March 31, 2021 were $7,202 as compared to total expenses for the three month period ended March 31, 2020 of NIL resulting in a Net Income for the three month period ended March 31, 2021 of $58,397 as compared to a net loss of $NIL for the three month period ended March 31, 2020. The Net Income for the three month period ended March 31, 2021 is a result of general and administrative expense of $7,202 and gain on forgiveness of debt of $65,599 as compared to the loss from operations for the three month period ended March 31, 2020 of $NIL is a result of general and administrative expense of $NIL and gain of forgiveness of debt of $NIL.
 Stock Hits New High On Unusual Volume: What’s The Buzz?){kind=link}