Ascent Solar Technologies, Inc. (OTCMKTS:ASTID) Keeps Dropping Down
Ascent Solar Technologies, Inc. (OTCMKTS:ASTI) hasn’t had all that great of a performance since the beginning of the year, but this month has been really bad. The company stock began sliding steeper down the charts and lost a massive amount of value over a very short period of time.
The company stock has managed to record only two sessions in the green since the beginning of the month and has lost more than 80% of the value it had on June 1. The terrible performance of the stock was triggered by a 1-for-20 reverse split that was executed earlier this month in the day after it was announced.
Meanwhile, the company itself isn’t doing all that well according to its latest financial report.
- cash: $350 thousand
- current assets: $9.7 million
- current liabilities: $15.1 million
- revenues: $710 thousand
- net loss: $10.5 million
Those are the numbers for the first quarter of the year and they certainly don’t look very promising although they are better than the ones recorded in the same period last year. Nonetheless, ASTID is in a free-fall at this moment and it doesn’t seem like anything can stop it.
Yesterday the ticker dropped another 13.37% down the charts and closed at $0.085. A total of 1.40 million shares changed their owners and generated $120 thousand in daily dollar volume. ASTID is still sliding down in today’s session, so you better be sure to do your due diligence and weigh out the risks before putting any money on the line.
