Brekford Corporation (OTC:BFDI) was doing quite alright in the last months of 2011, but 2012 hasn’t been impressive so far.
Unlike a number of OTC companies which started 2012 with had-to-explain price or volume increases, BFDI seems to be in a bit of a slump.
Yesterday, BFDI closed flat at $0.63 with mere 87 thousand shares changing hands.[BANNER]
Before the new year BFDI took a dive but in the last few sessions it seemed it was back on its way up. The company opened the first session of 2012 with a press release about the initiation of coverage by Taglich Brothers.
Perhaps, it was the fact that Taglich Brothers were paid by BFDI to create and disseminate its reports, then perhaps it was something else, but the market response was a drop in the price of BFDI.
While the company has been reporting positive business developments and results, there are some factors that can prevent the price from going up. For starters, there is no guarantee revenue growth will continue, but that’s an inherent risk to pretty much every business venture.
There is also the fact that Scott Rutherford, President of BFDI, has sold some shares in private sales or on the open market. However, this was known earlier. It will be interesting to see the next financial report of BFDI.
