Accelera Innovations Inc (OTCMKTS:ACNV) Publishes Quarterly After Big Run
After closing up over 100% for the second day in a row yesterday, Accelera Innovations Inc (OTCMKTS:ACNV) published its quarterly report after the closing bell. In the last market session the stock put on another 136% on a volume record of 738 thousand shares traded.
Today will be the first market day in which ACNV will have a chance to trade on the new information contained in the report. Considering how the stock climbed from $0.03 per share to $0.26 per share within the space of three market sessions in the complete absence of any news or announcements ahead of the quarterly report, ACNV‘s current high perch looks rather precarious. Here is what the company had to show on its books as of Sep 30, 2015:
- $280 thousand in cash
- $6.3 million in current liabilities
- $1.1 million in quarterly revenues
- $3.6 million in quarterly net loss
Even though ACNV‘s revenues are nearly 100% up compared against the same quarter of 2014, net loss has actually grown. The company managed to record net loss of $13.1 million for the first nine months of 2015 – more than double the loss figure for the same stretch of time in 2014.
The company has been trading in extremely low volumes over the past months, with multiple zero-volume sessions in the last four weeks and and dollar volume barely reaching a few thousand before last week. ACNV is the kind of stock where shifting $7,500 worth of stock can cause the price to move 50% – perhaps an intriguing pick for those attracted to volatility and high-stakes, high-risk trades.
Given how long ACNV languished on low volume in a price range far below its current level, it’s not unlikely that people will try to sell hard into the spike to cash out their stock, so caution is advised.
As an added bonus, here is ACNV‘s corporate headquarters according to the company’s OTC profile page and its latest report – a charming residential house in Illinois.
