After months of victorious climbing up, yesterday Bioexx Specialty Proteins Ltd. (CVE:BXI), (PINK:BIXZF) stock extracted a small but meaningful for investors part of its accumulated value added.
Yesterday, on the Toronto Stock Exchange the shares of Bioexx Specialty Proteins Ltd. dropped down by 4.98%.
The closing of BXI at $2.67 per share and the proposed lowest price of less than the doubled 52-week low were a clear signal that the trading range may be reconsidered these days.
The above mentioned signal was supported by almost four times the average quarterly volume traded for BXI stock.
On the American OTC market, BIXZF also lost value, returning 6.01% back.
In a time when other companies are eager to publish their financials for the period ended September, last Thursday Bioexx Specialty Proteins Ltd. reported the matters that were voted by the shareholders at the annual and special meeting held in June.
Looks like the released by the company information that its “engineering and operations team exercised tremendous diligence in an effort to smooth the transition to continuous operations” absorbed even the time of BXI for making investor updates. At the same time, if the shorted part of yesterday’s trading volume of BXI is excluded, only the part of those investors remain, who are inpatient to read the press releases about the company’s most recent financials.[BANNER]
Bioexx Specialty Proteins Ltd. reported decrease in revenues at the end of the second quarter of this year in comparison with the previous quarters. In addition, last month the closing of a private placement for aggregate gross proceeds of C$34,534,500 was announced.
One of the reasons for the revenue decline was explained by the company with the oil and meal pricing weakness and with the higher seed costs. BXI reported also significant number of days off-line due to Phase 2 extraction and protein installation activities in the plant.
Taking into consideration only these facts, it is not difficult to predict that yesterday investors needed more than ever some current information about the company. They are not so interested to read about what the shareholders voted for this summer since they already know the results, but what the following developments of BXI will be.
