Cal-Bay International, Inc. (OTCMKTS:CBYI)’s Halted Momentum
Yesterday was the first bad session for the stock of Cal-Bay International, Inc. (OTCMKTS:CBYI) in a little over 10 days in which the stock was gathering momentum in an upward direction and added 1650% to its price.
As predicted, this upward run couldn’t last long due to the shady information that is available for the company. The movement in price was relying solely on promising press releases prating about the agreements they have with Cambertire LLC.
Even though they stated that they have updated their financials from 2011 to current and they will be uploading it in the OTC Markets this week their stock lost 20% of its value. At first the intraday chart shows that the price was headed in an upward direction, but started sliding down after it reached a peak of $0.0049 at around 11:00 AM.
We are not sure if that had something to do with the fact that our article came right before the price started to fall and urged people to do more due diligence before jumping on this shady stock, but the descent is a fact. The ticker closed the session at $0.0028 and the total amount of shares that had switched hands through the day came at 219 million, generating a trade value of $912 million.
CBYI started today’s session a little bit better with a total gain of 17.86%, about 2 hours into the session. If trading doesn’t slow down we might see an even higher volume than yesterday’s. The ticker registered a total of 119 million traded shares with the current price of $0.0034 that made up for the $323 thousand in trade value in this short period of trading.
In any case, the ticker remains very risky until we get some solid information on the company financials and developments. Unfortunately the stock remains very risky until this happens so be sure to stay away for now or be prepared for a great risk if you have your mind set on betting on it.
Probably one of the biggest winners yesterday was Globalstar, Inc. (OTCMKTS:GSAT) who jumped 28 percent on a high volume that generated $11.9 million in trade value.
Another OTC company with a promising session was Nuvilex Inc. (OTCMKTS:NVLX), who seem to be gathering momentum in an upward direction after the long period of descending the charts with a gain of 23% yesterday. The upward run is continued today as they have added 12.77% to their value on quite a lot of traded shares.
