Following a series of two consecutive dreadful trade sessions, NIVS Intellimedia Tech GP (PINK:NIVS) finally bucked the negative trend yesterday. Gaining 17% in value, NIVS stock clocked in at $0.34 per share. As promising as this surge may sound at first, it is not even a shadow of the company’s not so distant glory days when it traded above the $2 level.
Yesterday’s positive price movement happened alongside a volume spike, as well. More than 1.15 million shares of NIVS stock changed hands over the course of the trading session, which is the company’s second highest score for the month of June.
Since NIVS has been downgraded to the absolute lowest OTC market tier, the company’s operations are shrouded in mystery. As expected in caveatemptorland, the company has not published any official news for ages. Nor has it been subject to promotional attacks, either.[BANNER]
For all that’s worth, NIVS IntelliMedia Technology Group, Inc. specializes in developing consumer electronic products. Its product portfolio encompasses a wide range of audio and video equipment. The company’s target markets are China, Europe, Southeast Asia and North America. To penetrate these markets, NIVS uses a vast network of wholesalers, distributors and resellers.
Unfortunately, NIVS’s caveat emptor status prevents investors from getting the full picture of the financial situation of the company. While the Chinese enterprise used to be a regular SEC filer, it recently lost this privilege due to a delay in the submission of both the 10-K 2010 annual report and the 10-Q quarterly report for Q1 of 2010.
