Despite the lack of change in the closing price yesterday, which remained at the sub-sub-penny stock level of $0.0008 per share, the shares of BizActions have been set into motion a week ago. Yesterday, the volume reached 512 million shares, but the stock is still not overbought and traders are probably looking for more quick gains in the coming days.
The second press release for the past week came yesterday just in place to confirm that BizAuctions’ shares will remain highly demanded, even if the market will not be willing to raise more their price. It seems that the company will make an attempt to capitalize the coming holiday season, claiming that it will open its second Outlet-Retail store and mentioning the big initial progress of the La Jolla Outlet store in support of the expansion plans.
Some financial results published on the OTC markets page at the end of August did not suggest that the business has potential to expand, however. They reveal that BizAuctions’ sales dropped down in the three months ended this June by almost one half as compared to the same period last year, while the losses kept growing. The company has also more than twice more liabilities than assets.
Currently, there are no official promotions for BZCN stock, though the unusual volumes look suspicious. The shares have been promoted for the last time in the middle and at the end of August. During the first promotion, the promoters disclosed to be holding 50 million shares of the company, which number increased to 60 million during the second promotion by the same promoter.
