price to reach $4.73 per share.According to the records, EDCI already trades above its yearly average and presently keeps climbing up.
Along with the high trade, its traded volume also rose up significantly, which means that the investors’ interest was successfully provoked.[BANNER]
The sudden price jump appeared to be due to a recent press release by EDCI, regarding a $10.5 million distribution payment and a SEC reporting plan approval. However, according to the announcement, the distribution payment is to be made at the end of this month.
EDCI Holdings, Inc. is the majority equity-holder of Entertainment Distribution Company, LLC, a European provider of supply chain services to the optical disc market. EDCI is engaged in a final plan of complete liquidation and dissolution, approved by its shareholders in January.
The company’s stock has traded lower during the last 12 months, while presently it is having an uptrend. This fact put EDCI among the top movers on the market these days.
In this year’s first quarter report, the company pointed that its cash and cash equivalents total $51.7 million and EDCI’s principal sources of liquidity were its unrestricted cash and cash equivalents. The company claims it has sufficient capital to cover its business plan and plans to use the cash in connection with its Plan of Dissolution.
Presently, the EDCI stock still holds the bullish trend and the company expects a split transaction to be completed in order not to file with the SEC. However, the future is up to be seen.
