Yesterday DNA Brands, Inc. (OTC:DNAX) closed up 19.23% at $0.31 after a press release and a paid promotion. The volume almost reached 135 thousand shares, which is far above the average for DNAX.
The promoter had been compensated $10 thousand for its services. The press release concerned yet another merchandising/marketing agreement with Circle K’s Florida Region.[BANNER]
Almost all the volume for yesterday was generated within an hour after the opening bell. Today DNAX is getting to a slower start, and it’s down 3.23% at the time of this writing.
The price of DNAX has been generally going down for months now. So far, the company has failed to turn a profit, although it should be noted that the losses are getting smaller.
Growing revenue is good, but in the latest report of DNAX the management states the company will need additional capital to keep growing. Every trader knows what that means for shareholders in the short term.
