A couple of years ago, the stock of Raystream Inc (OTC:RAYS) was regarded as a high-potential investment. Not anymore, though. Last Friday, RAYS literally tanked, dealing a blow to the hopes of its supporters for a glorious chart run.
Plummeting by a staggering 30%, RAYS closed the session that took place on Dec. 9 at a three-month low of $1.09 per share. A total of 6.67 million shares changed hands, which is the company’s third highest turnover for the last twelve weeks. The huge selloff continued yesterday, as well. Shifting an additional 4 million shares, RAYS lost 7% of its value, ultimately clocking in at $1.09 per share.
In retrospect, this appears to be the second nosedive for RAYS within the last five weeks or so. In fact, the company’s biggest slump occurred on Nov. 7 when RAYS went down almost 50% on a record-breaking volume of 11.8 million. However, what distinguishes the two sessions is the free trade alerts in support of RAYS stock which hit investors’ emails prior to Nov. 7 session. By contrast, no promotions whatsoever seem to have taken place this time.
RAYS’s great fall during the last couple of days has utterly disappointed a number of investors that, until recently, had a vested interest in this stock. In an obvious attempt to buck the trend, RAYS published a brand-new press release yesterday. As disclosed in the update, the company intended to start a free trial of its HD video compression services, inviting all businesses dealing with online HD video to test the service starting from Dec. 16. Yet, the PR failed to impress investors.
What will happen next is to a large extent dependent upon RAYS’s performance in the forthcoming market session.
