NECA share price rises 900%: why it happened
- New America Energy Corp’s (OTCMKTS: NECA) share price rose 900% today, from a price of $ 0.0001 to nearly $ 0.0010 per share. That’s why it happened.
New America Energy Corp’s (OTCMKTS: NECA) share price rose 900% today, from a price of $ 0.0001 to nearly $ 0.0010 per share. But most notably, it was one of the most traded companies today with over $ 4.24 billion in volume. After digging, it looks like penny stock day traders decided to jump on NECA today. due to certain activities in the company’s filings with the SEC.
Yesterday, New America Energy filed quarterly reports for the three months ended August 31, 2018, the three months ended May 31, 2018, the three months ended February 28, 2018 and the three months ended November 30, 2017. The latest record quarterly reports prior to that was an interim financial report on April 17, 2018. In the most recent quarterly report, New America Energy indicated that it was not a shell company and indicated that no change of control of the company had not occurred during the reporting period. .
New America Energy Corp has been described as a company operating through its securities lending subsidiary called Title King, LLC. Title King has provided short-term, high-interest loans to consumers through the use of car and truck titles as collateral. And the company operates in the alternative financial services industry, providing auto title loans to consumers who own their vehicles free of charge and in the clear and need access to funds.
After digging, I don’t see any other type of activity from New America Energy. The websites for its operations appear to be down (www.newamericaenergycorp.com) and (www.titlekingloans.com). And the Facebook page for Title King Loans has not been updated since 2016. However, there is speculation that the company has updated its SEC filings for a reason (i.e. that it might indicate that the company might be making some kind of comeback).
NECA’s ticker symbol also appears to be trending in day trading Discord forums, stock market Twitter hashtags, and trending Facebook groups on stocks today – which has further increased trading volume.