Sometimes, too much is not good enough. Investors who have been keeping a watchful eye on Raystream Inc (OTC:RAYS) know it very well.
For the last couple of days, RAYS had been churning out one press release after another when the balloon finally went up last Monday. Slumping by 48%, RAYS stock lost nearly half of its value, closing the session at a two-month low of $1.24 per share. What is more, the stock meltdown occurred on a huge volume spike with more than 11.8 million shares of common RAYS stock changing hands. Yesterday’s performance, on the other hand, was by no means as disastrous as the previous one. In fact, RAYS even managed to regain a small portion of what it had lost by going up 6% to $1.32 per share no twice as low volume of 5.6 million.
The latest session was impacted by the latest press release in support of the company which popped up on Nov. 8. According to the corporate update, RAYS, which describes itself as ‘an emerging global provider of HD video services’, had entered into a partnership agreement with a European video production company called Laterna Magica and renowned for providing video services to established customers such as Lufthansa and Nestle to name but a few. From now on, Laterna Magica will be offering low-bandwidth HD video using Raystream’s proprietary HD video compression technology.
The aforementioned transaction is seen as RAYS’s first step towards international expansion. What is more, according to CEO Brian Petersen, the company has so far received many inquiries from all over the world, so in the best-case scenario RAYS will hardly experience such severe downturns as the one that happened two days ago.
