ASX stock of the day: Why Envirosuit (ASX:EVS) shares are bouncing

The Envirosuit Ltd (ASX: EVS) share price is bouncing around in a rather dramatic fashion today. At the time of writing, Envirosuit shares are trading at 13 cents a share, an 8.33% bump. But soon after open, Envirosuit shares reached as high as 14 cents, which (due to the laws of small numbers) is a pretty hefty 16.67% rise.

Since, then the shares have obviously cooled somewhat, meaning that this company has been bumped 16.67%, and fallen 10.7%, all in one day. That kind of volatility is enough to give anyone watching whiplash.

Despite the (fleeting) move upwards this morning, Envirosuit is a company that has not had a good run over the…