In June, Bebida Beverage Company (PINK:BBDA) skyrocketed more than 800% in one day. Shortly after that it started slipping back to the lows before the spike. On Friday, there was an attempt for a breakout.
This time BBDA managed to close up 40% at $0.0035. Nearly 28 million shares changed hands. The gain is hard to explain with any fundamental developments.
BBDA was slipping down and on Sept. 6 it hit $0.0017 at the close. Conveniently enough, the company issued PRs the following two days.[BANNER]
One informed the public that BBDA had formed a partnership with an advertising and marketing company focused on the airline and tourism industries. The other announced that BBDS’s flagship product Koma Unwind was now available in a sugar free version.
None of the announcements managed to create enough excitement for a repeat performance of June’s explosive gains, but perhaps the positive closes gave traders ideas that there could be a more significant move on Friday.
As far as the financials of BBDA are concerned, the company is reporting revenues and even profits, however, the reports are not particularly detailed. What is made perfectly clear, though, is that dilution is an issue with BBDA. The number of outstanding shares at the end of Q2 was nearly 4 times what it was at the end of Q1.
BBDA may have to provide some very impressive and convincing information if it is to get a more stable gain on the market.
