Last Friday, Healthient, Inc. (OTC:SNAX) closed the week on a high note.
Closing at a three-week high of $0.165 per share, SNAX stock gained 18% in value. A total of 803,228 shares of common SNAX stock changed hands, which is more than twice the amount of the company’s daily average trading volume.
Yet, if you search for news and/or paid advertising efforts which could have given SNAX the boost it scored, you will most probably be disappointed because there are none. In fact, SNAX’s latest PR came up two weeks ago and it allowed for a 16% price surge. As far as paid promotions are concerned, no pumping emails whatsoever appear to have ever reached our comprehensive database.
Established in 2009, Healthient, Inc. is a Florida-based corporation which produces healthy food and beverage snacks. The company finished the third calendar quarter of the 2011 fiscal year with:
- cash reserves of $174K;
- net working capital of $22K;
- quarterly revenue of $70K;
- net quarterly loss of $628K vs. $210K incurred in Q3 2010.
Considering the size of SNAX’s assets and the scale of its net loss, it is unlikely that the company goes in the black any time soon, which is why long-term sustainable chart growth would rather seem a shot in the dark than an educated guess.
