Global Aircraft Triples after Favorable Mention
Global Aircraft Solutions Inc. (GACFQ, Free Analysis), a bankrupt holding company of aerospace-related companies, more than tripled during today’s session on heavy volume after being favorably mentioned in a popular investment newsletter. The newsletter cited a technical breakout as the reason behind today’s move, while stressing that there is little fundamental support behind the spike.
While traders may still be actively engaged in the aerospace holding company, investors may want to steer clear given the fact that the company is in bankruptcy. Meanwhile, very few financial details related to the bankruptcy process have been filed, with the latest SEC filing being made in April of 2009, nearly two years ago, making it a difficult company to assess.
