Prior to submitting its latest quarterly report, Axion Power International, Inc. (OTC:AXPW) had taken on a fairly negative chart course. Not surprisingly, the company’s market behaviour did not change after it declared another negative quarterly financial result.
Last Monday, AXPW published its third 10-Q report for 2011. As a result, AXPW stock lost 19% of its value, closing the session at a six-month low of $0.39 per share. Subsequently, the situation continued to deteriorate. Instead of bouncing back, AXPW continued to dig deeper, ultimately hitting a new low of $0.37 per share during yesterday’s session when 255 thousand shares of common AXPW stock changed hands.
Investors who are familiar with the main points which were discussed during the conference call held on the same day the report was filed, i.e Nov. 15, most probably consider AXPW as a potentially viable investment in the long-term since it will take a while before the company starts generating profits. However, by the time AXPW receives the significant order which it expects for the first calendar quarter of 2012, the company’s stock might reach new lows.
Last but not least, AXPW’s negative trend could also bring about advertising campaigns in the foreseeable future. The last promotional effort in favour of AXPW led to a 13% increase in value, which could induce third parties to raise awareness about AXPW stock here and there.
