In spite of its less-than-stellar financial health, NeoMedia Technologies, Inc. (OTC:NEOM) went up yesterday for a third session in a row.
Shifting 12.5 million shares, NEOM stock gained 9.66% yesterday, climbing up to $0.159 per share, or its highest October value so far. The appreciation came right after a similar movement took place on Tuesday when NEOM enjoyed a similar price increase to a much higher volume of 35 million.
The lack of recent news suggests that NEOM stock is currently on the loose, which makes it fairly vulnerable to any promotional attempts. Since the latest newsletter campaign in support of NEOM occurred in early July, there is no guarantee that third parties might not be preparing for a new round in the foreseeable future. Anyway, the last time any paid promotion succeeded in pumping the value of NEOM shares stretches back to December, 2010.
Just like four weeks ago, NEOM’s financial condition is far from acceptable. Moreover, the lack of any strong news for the time being is indicative of the company’s unwillingness (or inability) to offer its supporters a commercially viable undertaking, which would in turn at least start melting the huge working capital deficit.
