its price and its volume exceeded 1 million shares traded. That’s a clear sign that investors are losing interest in DIGA stock and have started selling their shares heavily.The latest news on Digital Angel was released last week, when the company reported that its Board of Directors has retained the investment banking firm AgriCapital Corporation as an advisor on some alternative strategies.
Previously, DIGA announced its intention to hire a financial advisor to evaluate the company, as well as to advise the Board how to maintain its independence.
However, traders didn’t seem satisfied with the news and the stock aimed the bottom of the chart.[BANNER]
Digital Angel Corporation is an advanced technology company working in the field of animal identification and emergency identification solutions. At the beginning of this month, the company issued a press release regarding the move from the NASDAQ exchange to the OTCBB.
The historical records show that in 2009 the company used to trade above $1 per share, though this year the stock price is about 50% lower. Over the last month, DIGA has published some positive news on its business, though it didn’t reflect much on the stock price.
According to the company’s quarterly results, its revenues have decreased, while the operating loss has increased over 5 times. Though DIGA still has more assets than liabilities, the company doesn’t have enough cash to cover all the expenses.
Judging by these facts, the present stock price crash may be reasonable and Digital Angel will need to actively search for some additional financing to support its operations.
