Yesterday, there was a massive sell off of shares of Andiamo Corp. (PINK:ANDI), fka. Title Consulting Services, Inc. The name and ticker symbol are new, but the company and the way it trades aren’t.
At the end of the day, 145.7 million ANDI shares had changed hands. The result of the trades was a 33.33% dive and a close in the triple zeros at $0.0008.
ANDI actually opened high at $0.0012, but couldn’t keep its value for long. This initial good start was probably the result of the PR issued by ANDI on Tuesday, coupled with a new $335 thousand promotion.[BANNER]
The press release claims ANDI has “established a relationship” with Mascia Law Firm, whereby Mascia will handle short sale negotiations for Accu Title customers. Some traders think the drop may be due to dilution. Although there is no evidence of that, it is certainly a possibility.
The PR from Tuesday was issued shortly before the close and managed to pick the price up, but not to trigger the selling right away. Hopefully, this new “relationship” will somehow help ANDI start to generate profit.
The company’s operations are bringing losses for now. This, and the promotion and PR combination, don’t really attract long term investors.
Perhaps, if ANDI follows through with the new name and “hurries up” with the part where they start making money, they will rise back out of the sub-pennies. For now, however, it seems there isn’t anything new for former TITL, except for the name.
