5Barz International Inc. (OTC:BARZ) hit $1.57 on 584 thousand shares! Well, it did, but that was Apr. 5. Since then, it has been going one way – down.
Things didn’t change much for BARZ yesterday. The volume continued to decline and came up short of 75 thousand, while the price dropped another 1.16% for a $0.85 close. This is a loss of about 45% for those who decided to get in on Apr. 5. It could be a positive development, though. For those, who shorted the stock back then.
Promotions are still on the way, but they don’t seem to be enough to counter the effect of the massive dumps of BARZ shares, or the reputation of Daneil Bland, CEO and sole director of the company. In the mean time, the company has remained silent after the releases from Apr. 6.
While this development may be a huge, albeit disastrous, surprise for some, others did the due diligence and even made attempts to warn the rest. The glorious past of Daniel Bland’s previous enterprises is described in more detail in this article by David Baines of The Vancouver Sun. Suffice it to say, Mr. Bland drove more than one company into the ground and managed to take the investors for substantial amounts of money.
This is, however, the OTC, and trading on this tier is not necessarily reflecting how good a company is doing. If BARZ doesn’t get delisted, its shares will be available for trades, plays, speculations, and at some point someone may still make money on it.
There is also the possibility, Mr. Bland has changed his ways. Perhaps, this time he will manage to create a profitable company which operates. You should be the judge of that.
