ZAP (OTC:ZAAP) closed on $0.990 moving up by 14.45% with total traded volume 927,724.00, ZAP designs, produces and sells fully electric and other advanced technology vehicles.
BestOFOTC.com: Top Traders at OTC on 11/24/2010 -ZAAP
BestOfOTC.com Top Traders at OTC on 11/24/2010: (HHWW, LFBG, MITK, IMDS, AMOK, ZAAP)
ZAPJonway's Good Performance on Stock Market with providing Update on Jonway Acquisition
Zap(BB) Stock Chart (ZAAP)
- Electric vehicle pioneer ZAP completed its initial down payment of US$10 million towards the 51% acquisition of Jonway Automobile.
- Jonway Automobile plans to complete an audit of its financial statements by December 31, 2010 and thereafter, ZAP intends to finalize the acquisition with the payment of the US$19 million balance of the US$29 million purchase price.
- Jonway Automobile plans to ramp up production of the A380 SUV electric vehicle (EV) in the first half of 2011 together with ZAP’s Alias EV by third quarter 2011 at their Sanmen, Zhejiang factory.
- Jonway Automobile reported sales of over 4,000 gasoline vehicles through the end of September 2010, and projects total sales of over 6,500 vehicles by December 31, 2010.
- Read more:http://finance.yahoo.com/news/ZAP-Provides-Update-on-Jonway-bw-2656306336.html?x=0&.v=1
Nov,22,2010
ZAP (OTC:ZAAP) Enjoys The Next Speculative Rise
By Violeta Slavtchevska Date:Jul 5, 2010
ZAP stock price jumped on Friday shortly after trading began and at first glance it looked like the selling pressure from the previous day had disappeared. With the usual large daily volatility and on exploding volume of over 727,000 shares traded, the stock hit its previous resistance from the middle of May and the closing price was $0.395, or 4.77% up.The additional demand for the stock cannot be considered unexpected however.
Though, it was mentioned in the newsletter of a website this weekend, sending
investor alerts and being as well involved in the trading penny stocks. Another
disappointing fact for investors, who hope for the stock to break its rise-and-fall pattern and finally have a long-term appreciation is the intensive shorting activity from last week. Nearly 55% of the volume was sold short, which means that the market sees an upcoming drop in the price as much more probable.
According to the actual parameters of ZAP's business, their stock appears currently highly overvalued. ZAP designs and manufactures electrical vehicles, an industry with high-growth potential. Though, the company incorporated in 1994, has not managed to profit from that so far. Large losses have been reported over the past three years and despite some significant technology developments and strategic steps towards an Asian expansion during the first quarter of the year, the financial results cannot catch up. The gap between cash provided by operation and cash needed to cover expenses seems to expand and on the declining sales, the net losses are growing further.
The conditions under which the company had secured financing so far seem to have
been highly unfavorable and with the present results, it is unlikely that this will change. As ZAP has previously failed to make the scheduled payments on a short term loan agreement, some of the company's property that served as a collateral had to be transferred to the lender, which is however still not reflected in the latest financial report. Further borrowing are either due on demand or in the form convertible notes,or are secured by all of the company's assets.
With newsletter alerts sent out and large short selling interest, ZAP stock is on the rise again, holding on to its usual performance pattern.
ZAP stock price jumped on Friday shortly after trading began and at first glance it looked like the selling pressure from the previous day had disappeared. With the usual large daily volatility and on exploding volume of over 727,000 shares traded, the stock hit its previous resistance from the middle of May and the closing price was $0.395, or 4.77% up.The additional demand for the stock cannot be considered unexpected however.
After the intensive promotional coverage from last year, the stock has not been
officially promoted recently.
officially promoted recently.
Though, it was mentioned in the newsletter of a website this weekend, sending
investor alerts and being as well involved in the trading penny stocks. Another
disappointing fact for investors, who hope for the stock to break its rise-and-fall pattern and finally have a long-term appreciation is the intensive shorting activity from last week. Nearly 55% of the volume was sold short, which means that the market sees an upcoming drop in the price as much more probable.
According to the actual parameters of ZAP's business, their stock appears currently highly overvalued. ZAP designs and manufactures electrical vehicles, an industry with high-growth potential. Though, the company incorporated in 1994, has not managed to profit from that so far. Large losses have been reported over the past three years and despite some significant technology developments and strategic steps towards an Asian expansion during the first quarter of the year, the financial results cannot catch up. The gap between cash provided by operation and cash needed to cover expenses seems to expand and on the declining sales, the net losses are growing further.
The conditions under which the company had secured financing so far seem to have
been highly unfavorable and with the present results, it is unlikely that this will change. As ZAP has previously failed to make the scheduled payments on a short term loan agreement, some of the company's property that served as a collateral had to be transferred to the lender, which is however still not reflected in the latest financial report. Further borrowing are either due on demand or in the form convertible notes,or are secured by all of the company's assets.
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