Following a prolonged period of steady depreciation, Motricity, Inc. (NASDAQ:MOTR) has finally made a breakthrough, which in turn has proven big enough to whet investors’ appetite for paid promotional games.
Whether by mere coincidence or not, MOTR had been waiting till the very beginning of the new month before bringing its increasingly deteriorating market performance to an abrupt end. Last Friday, MOTR stock soared by a staggering 33% to a two-month high of $1.28 per share. The spike in volume was even higher as more than 11.1 million shares of common MOTR stock changed hands, setting a six-month record for the company.
Prior to the latest market session, MOTR had already gained an additional 20% in value. As it turned out, this short, yet glorious, chart run has already surpassed the 50-day moving average, which symbolizes a trend reversal pattern.
In an attempt to capitalize on MOTR’s new trend, third parties have embarked on a paid advertising campaign in support of MOTR stock. The promotional email worth $10 thousand advises investors to put MOTR on the watchlist for the upcoming session. It reached our newsletter database last night.
MOTR finished the third quarter of the 2011 fiscal year with:
- cash reserves of $17.7 million;
- $65M in current assets (of which $41M in ARs) vs. $60M in current liabilities (of which $28M in APs);
- quarterly revenue of $30M as compared to $38M in Q3 of 2011;
- net loss of $174M caused by $162M of impairment charges.
