Following a series of disappointing market sessions, Baristas Coffe Co (PINK:BCCI) logically entered a downward trend yesterday.
The company’s shares were on the slide again yesterday, down 11% at $0.095 per share, which marked BCCI’s fourth negative market performance in a row. Thus, it closed trade at a three-week low of $0.095 per share. In terms of volume, approx. 774 thousand shares of common BCCI stock changed hands, which is equal to its 30-day average trading volume.
As an aggregate result of the company’s recent slide in its market positions, the value of BCCI stock has now fallen below the 50-day moving average which, technically speaking, suggests a transition from an uptrend to a downward spiral.
This course of events shows that the company’s latest activities may not seem impressive enough to investors. BCCI’s latest press release came up on Jan. 18 when the company announced that it had scheduled the filming of its reality show for early-February.
BCCI closed the fiscal quarter ended Sept. 30, 2011 with:
- cash reserves of $19K;
- working capital deficit of $170K;
- quarterly revenue of $263K and net income of $62K.
