MCLN Keeps Flying Up at Top Speed
Date: Feb 1, 2011
MedClean Technologies Inc. (OTC:MCLN, MCLN message board) has been progressing up fast these days. During the past week, MCLN made impressive gains, though broken by negative price changes a couple of times. However, this week the stock continues its up move at full speed.
The strangest thing here is that the climb cannot be explained with anything but stock alerts. MedClean Technologies has not released much news on its business recently, though the stock is flying up. In fact, the alerts on MCLN appeared on Jan 14 on stockreads.com. According to the website, the stock was pointed as a chart gainer, which pumped up its price. During that time, the alerts didn't influence the stock price much, though it jumped up later on.
Another promotional website, smallcapnetwork.com, stated that MedClean soared 200% over the past days and "perhaps jump-started a longer-term uptrend". The website pointed that MCLN might eventually pull back a bit, however, the high trade was registered and investors are still hoping for more gains.
Another interesting fact about MedCLean is that around the time the stock alerts came up, Manatuck Hill Partners, LLC, an investment adviser acting on behalf of its clients' accounts, has disposed 8000000 of MCLN securities, sold in multiple transactions at prices ranging from $0.0021 to $0.0029 per share. Earlier in January, Mr. Joseph Esposito, Director of MLCN, also disposed 12000000 of securities, "pursuant to a bona fide gift". Mr. Esposito currently indirectly owns 112,620,000 shares of MCLN, issuable upon exercise of warrants or other options.
