When last we checked in with eXeBlock Technologies (XBLK.C), they were not exactly chatty.
Maybe this is why:
Alternately, maybe this is why:
I’m probably not their most favourite journalist, which might be a problem because they’re a client.
But hey, when we started that relationship, we made it clear – if you’re not hitting the marks you said you would, we’ll come down hard on you. And XBLK didn’t hit their marks.
While I can’t lend any great insight into what’s going on behind the scenes at XBLK right now, I can relay what I’m hearing – not from the company, but from the street.
One investor I’m familiar with, who told me he was ‘giving up’ on XBLK two months ago, told me yesterday, “Something’s happening.”
When pressed, he said “They’ve been lining something up and it’s important. They went quiet because they don’t want to spoil anything, but they’re not asleep at the wheel.”
Okay, I hear this kind of thing sometimes and usually take it with a grain of salt. Everyone in the junior markets is ‘working on something big.’ Hell, I’m working on something big. Any day now, Charlize Theron will finally track me down and make an honest man out of me, I’m certain of it.
But in the smallcap space, the drumbeat gets a lot more interesting when several drummers join in. I did a round of emails and texts to folks on the edges of this deal and either got ‘Can’t talk about it’ or, ‘I’ve heard similar things’ from two others.
Also, worth noting is, the particular investor I referenced above has no history of bullshitting me. His record, with me anyway, is clean – a rarity in this space, where folks will lie through their teeth if they think they’ll squeeze and extra half cent out of a sell, burning friends along the way.
This was all going down last night. This morning, the stock jumped 21% on volume not seen for months.
I’ve received emails from readers asking why the company isn’t doing more to prop it’s share price, and that’s a fair question. The charitable answer is, when weak hands are shaking out, you don’t want to waste news helping them get a better price for their selling.
The less charitable answer you already know.
So let’s not get carried away here – a 20% jump from a 52-week low is a long way from getting back to where things started out. And there’s been no news to back that jump. And the company is still being quiet.
I’m not jumping in until I see a little more action. But I am intrigued. And watching.
— Chris Parry
FULL DISCLOSURE: eXeBlock is an Equity.Guru marketing client.