ECOtality, Inc. (ETLY.OB) Continues Bullish Run as Share Prices Increase 7.74% Friday
ETLY.OB shares have been on a steady uptrend to higher prices since the company announced that it has acquired Electric Transportation Engineering Corporation (eTec) and its affiliated companies for $6.25 million. In the past three days, prices have risen 23.7% from Wednesday’s low of $0.27. This strategic acquisition provides ECOtality with an additional $9.39 million in annual revenues when including the revenues generated by previous acquisitions of Innergy Power Corporation and Fuel Cell Store. The President & CEO of the Company, Jonathan Read, commented, “Through successful execution of our strategy to acquire and commercially advance revenue-generating companies and technologies such as…