The last trading session was quite successful for the ATM company Global Axcess Corp.(OTC:GAXC). The stock attracted unusual deal of trading activity with more than 540 thousand shares changing the ownership. Not an all-time-high, but still times above the average. Naturally, this had an effect on the price, which increased by $0.06 and closed at $0.55 per share.

For the above to happen, there was naturally a catalyst of some sort that could influence investors to focus their attention on Global Axcess stock. In this case it is the official announcement by the company from last Friday, according to which GAXC has completed two acquisitions. One of them is an asset purchase, while the other is a takeover of another company. Both can be viewed as a sign for planned expansion on the market, which is why investors engaged heavily in trading and pushed the price roughly 12% up. [BANNER]
Global Axcess Corp. was founded in 2001 in Florida and it entered the stock market a few years later initially trading at $1 per share. Unlike other penny stock companies, the stock has not gradually decreased and never returned to the initial offering range. A good example is 2009. The year started with a price of $0.10 per share, and just twelve months later in Jan. 2010 it had increased to more than $1 per share. Yet, the positive trend did not continue throughout last year, which is clear from the current stock price.
Main line of business for the company is to provide self-service kiosk services in the US, mostly ATM and other self-service kiosk management solutions like account management and cash and inventory management. At present, the company manages or operates 5,300 ATMs and other kiosks as the number increased after the last asset purchase of 140 ATMs from another undisclosed nationwide network.
Now, as mentioned volatility is not an unusual word when describing Global Axcess shares on the market. Very often, it is due to positive developments of the company, or unfortunate ones of its subsidiaries. In this aspect, it is interesting to mention that although 2009 and 2010 are much different in terms of stock price movement, they are very much alike in terms of balance sheets. According to the last 10-Q report, GAXC had a negative working capital of $1.26 for the first three quarters of 2010, or almost the same as in 2009. Though, the current assets in 2010 amount to $5.4 million as compared to $3.9 million for the previous year.
Having in mind all of the above, there is much uncertainty as to whether the acquisition moves will be successful and will increase the revenues together with the stock price, or would rather be the first step of a new free fall on the market that would also be nothing new to Global Axcess Corp. stock.