Dewmar International BMC Inc (OTCMKTS:DEWM) Closes The Week in The Red
The stock of Dewmar International BMC Inc (OTCMKTS:DEWM) has been scrubbing the floor in tripple zero land since the middle of November. Recent optimistic news led to an impressive jump, but the ticker began to slide down again.
After the company President and CEO, Dr. Marco Moran announced that the promotional trial sale of their Lean Slow Motion PotionTM that was started in July in six Walmart stores was received very good and the company has been invited to sell their product in 23 additional stores across 3 states, the stock skyrocketed.
This took place on December 11, when DEWM added a whopping 350% to its price, on volumes 10 times the ticker’s average. A total of 1.3 billion shares switched hands in that session and generated $681 thousand in dollar volume.
However, DEWM started sliding down the very next day and lost 11.11% of the gain. The last session before the weekend was even worse as we saw the stock lose another quarter of its price, closing at $0.0006 on lower volumes that generated $275 thousand in trade value.
Considering the fact that it seems like Mr. Moran is probably thinking that we are fools we can’t see the stock somewhere else from the bottom. This is because while the company’s product was so “well received” the revenues were 53% lower from the same period last year.
It is all there in the financial filing for Q3 of this year, when the company product was supposedly having great success, selling in Walmart.
In any case, be sure to do a lot of due diligence and weigh out the risks, despite the low price of DEWM.
Tiger Oil and Energy, Inc. (OTCMKTS:TGRO) also had a bad ending of the week as their stock dropped 15% in price. Axion International Holdings, Inc. (OTCBB:AXIH) on the other hand, climbed an impressive 35% on high volume.
