Gawk Inc (OTCMKTS:GAWK) Adds Revenue Battles Short Selling
Gawk keeps adding revenue and expanding, short sellers are very active here but the old adage “build the company and the stock will follow” at some point will kick in here and the stock will take off.
Scott Kettle, CEO, announced that the Company has acquired the VOIP assets of Xtelus LLC, a North Carolina LLC and Xtelus S.A, a Dominica International Business Company. “This new addition to GAWK will put the Company at an annual revenue run rate of approximately $7 million,” said Scott Kettle, GAWK CEO. “The $1million in annual revenue Xtelus adds to our bottom line proves our strategy of evolution by acquisition, plus continuing organic growth. The Xtelus executive team is widely known in our industry as specialists in VOIP technology, and combines seamlessly with our strong management team.”
The acquisition of Xtelus is GAWK’s fourth acquisition since the Company’s founding in 2013, joining Net D Consulting, Connexum and Web Runners.
Candlesticks Indicate a rally
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 1 white candles and 8 black candles for a net of 7 black candles. During the past 50 bars, there have been 19 white candles and 26 black candles for a net of 7 black candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Here is data on how active the shorts are:
|Date||Close||High||Low||Volume||Short Volume||% of Vol Shorted|