Bluestem Group Inc. (OTCMKTS:BGRP) Surges On News
Bluestem Group Inc. (OTCMKTS:BGRP) managed a 15% climb on Friday, after announcing that it will hold an investor conference call mid August.
The conference call was scheduled for August 17 – but why were investors so enthusiastic about something that is to happen a month from now?
Well, when it comes to it, BGRP has always been something of an oddball on the OTC Markets. Looking at the company’s financials, one gets the impression that it operates on a whole different level from most OTC Markets pinksheets. The last time it reported, it had half a billion dollars in cash on hand and a third of a billion dollars worth of quarterly revenues to its name. Unfortunately, that report is now more than two years old – which is why BGRP‘s orifile page is stamped with a big red glowing “STOP” sign.
Now, it could be argued that there is still information about BGRP to be found on-line. However, it is mostly through the documents on the company’s site that investors could research the state of BGRP‘s affairs – and since said documents are unaudited, they should be taken with a grain of salt at best.
Not that the numbers BGRP keeps giving investors are all that rosy, mind you. A month ago, it announced that its revenues for Q1 2016 have grown to $428 million – but its net loss is also as high as $33 million.
Investors are now hoping that BGRP will give them something to be cheerful about after the long information drought in this upcoming conference call – which is why the ticker jumped as soon as the call was announced.
Are those hopes in vain? Only time will tell.
In the meantime, we advise traders who wish to make a profit out of BGRP to keep an ear close to the ground, because any development related tot he company in its present state could launch the ticker up or down the charts.