IRVINE, Calif., May 6, 2011 (GLOBE NEWSWIRE) -- Shares of Universal Bioenergy Inc. (Pink Sheets:UBRG) continued to rise as investors reacted positively by buying its shares and pushing the stock price up by a gain of 42.86% since Monday May 2, 2011. The high volume trading for the Company's shares continued for a fifth consecutive day and with a two day rise of 53.74% since Wednesday's close.
Universal's shares rapidly rose to $0.118 by 12:00 pm in intraday trading, which was 31.11% over the peak price of $0.09 on Thursday. The stock was moving at a very high volume in early market trading sessions today, and was up more than 6.86% with a total of 8,142,311 shares changing hands by the middle of the trading day. Daily trading volume is now averaging over 1,335,490 shares.
Vince M. Guest, Universal's President, said, "This was really incredible for Universal as we reached three new records in trading volume in the first week of May. Many factors contributed to the explosive increase in the volume and price of our shares. On Friday April 29, we released our Annual Letter to Shareholders. Then on Monday the stock price jumped 10.53% on news of the Company's expansion plans. On Tuesday, Universal's stock rose 16.67% and set a new daily trading record of 8,824,998 shares. Wednesday the Company experienced its second highest trading day with 7,939,660 shares changing hands. With the announcement of the new gas supply contract being awarded on Thursday, the stock climbed 22.45% with 7,619,346 shares traded. A total of 27,903,017 shares traded in just the first four days of this week alone. We are very exited that the investment community is more bullish about Universal and are demonstrating it by investing with confidence in our future."
About The Company
Universal Bioenergy Inc. is an alternative energy company, and intends to create and market natural and alternative energy sources including natural gas, petroleum, solar, biofuels, wind, synthetic fuels and related energy technology products. It plans to build the company into a prominent player in alternative energy.
The Universal Bioenergy Inc. logo is available at
Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
CONTACT: Solomon Ali 704-837-5705