Command Center, Inc. (OTCMKTS:CCNI) Stumbles After Reporting
Command Center, Inc. (OTCMKTS:CCNI) slumped 8.67% yesterday, when its latest quarterly hit the web.
Investors were evidently not impressed with the numbers said report presented, in spite of the fact that that said numbers look better than what you could find on most OTC Markets balance sheets:
- Cash – $7.9 million
- Current Assets – $19.5 million
- Total Assets – $27 million
- Revenue – $19 million
- Net income – $81 thousand
Even so, the investors’ disappointment is understandable, in light of the fact that this statistic is inferior to what CCNI had registered in the last quarter as well as year over year.
What is surprising in this case is the fact that the investors’ displeasure wasn’t successfully mitigated by the announcement that CCNI‘s “first quarter financial results reflect our investment in hiring”. That kind of statement from a stable OTC Markets company usually does a better job of halting the ticker’s descent than it did this time.
And, judging by the fact that CCNI is actually making a ton of revenues and has had a profitable and dilution-free year, CCNI may indeed be considered one of the more stable companies on the OTC Markets’ QB tier.
However, that does not mean that investors could afford to lose their edge. In spite of its achievements, CCNI is still an OTC Markets penny stock, with all the risks that status represents.
