After the first five winning session that followed in short the company’s first for this year press release, during the next five trading days DGMA stock is plunging down. The 70% previously shorted volume must be still providing speculators with satisfactory profits, as the share price got another 18.37% down yesterday. The market closed at $0.004 and over 177.8 million shares were sold out.
One can imagine who most of the buyers of that shares were, but since the last time we reported about Degama the company persists in issuing more and more press releases, providing thus shorters with the next chance to conduct their speculations. As DGMA is still not disclosing any facts or results from its business, the stock with an average dollar volume of around $80,000 remains highly vulnerable for manipulations.
The shorted volume yesterday was 35.7% of the total number of traded shares and reached over 66% on Monday.
According to yesterday’s announcement, DGMA’s core product VascoNow has already seen an “active, multi-lingual expansion” and will together with an “exciting new development to be announced soon” provide for $32 million in revenues over the next twelve months, this being the conservative estimate. Further, CEO Seijin Ki recently closed another informational gap, namely the one about Degama’s business model.
It consists of licensing the VascoNow application at no cost to some partners worldwide, which will then develop a version of the software in their own language. The final result, which is supposed to be “a global advertising campaign for Multinational companies and we will share all revenues from these territories” finally gives a slight idea of where DGMA’s revenues may come from.
