Glassesoff Inc (OTCBB:GLSO) Pops Back on the Radar

Glassesoff Inc (OTCBB:GLSO) became public back in July 2013 when it completed the merger with Autovative Products Inc, but although the new enterprise adopted a really interesting business plan, investors didn’t really seem all that keen on putting their money in the ticker at first. In December, GLSO announced the launch of the GlassesOff application for iOS devices and that’s when things really started to heat up.

A couple of weeks were enough for the ticker to surge from around $1.70 per share all the way to $2.50 and there were quite a lot of investors who thought that this is just the beginning.

In fact, some of them were so excited, that they decided to publish a couple of optimistic articles on Seeking Alpha (SA) which, as is often the case in Pennyland, had an effect on the stock performance. Both the price and the volume received a boost from the SA coverages, but, as we mentioned about a month ago, not everyone was quite so enthusiastic.

On December 16, a contributor who goes by the nickname of Investor RockieK expressed his own opinions on GLSO and it’s fair to say that they were quite contrary to the ones we saw from the preceding SA coverages. The effect on the ticker was quite different as well. It registered four consecutive red sessions and ultimately slipped below the $2 per share mark.

Shortly after, enthusiasm died down. GLSO managed to regain some of the lost ground but the tiny trading volumes suggested that the majority of traders had decided to stand on the sidelines. Which isn’t really all that surprising considering the fact that the company issued no updates for the next couple of weeks.

Now though, the stock is seeing some action. Monday’s session ended with around $237 thousand in trade value and a disappointing loss of 5.22%. Yesterday, however, it managed to regain the lost ground while registering an even more impressive dollar volume.

The reason for this is yet another Seeking Alpha article. It was written by GLSO‘s co-founder and Chairman of the Board, Shai Novik, and, though not explicitly expressed, it’s designed to answer the negative coverage published by Investor RockieK a couple of weeks ago.

Mr. Novik’s expose actually went online on January 6, but since it didn’t appear on the company profile at Yahoo! Finance until Monday, it failed to profoundly affect the stock during last week’s trading. But what does GLSO‘s Chairman have to say?

Not much in terms of new information. He talks at some considerable length about the technology, about the numerous trials it has passed with flying colors and although he admits that the app probably won’t work for everybody, he says that the management teams expectations hover around the 90% success rate mark. He also states that the GlassesOff mobile application is just the first in a long line of products that his company wants to develop and commercialize.

Unfortunately, he doesn’t give us any information on how the app is doing in terms of revenues which means that, as clever as it may be, its chances of success are still really hard to estimate.

This, in turn, leaves the stock in the speculative realm. Its performance will be influence by press releases such as the one from earlier today which informs us that the company has received some awards during the International Consumer Electronics Show, but the long-term behavior can only be decided by the next financial statement.

That’s why, despite the optimism (and there seems to be a lot of it once again), treading carefully and considering all the risks might not be a bad call.

Another ticker that seems to be on investors’ radar at the moment is Gray Fox Petroleum Corp (OTCBB:GFOX). GFOX managed to climb by nearly 12% yesterday while shifting around $640 thousand worth of shares. Chromadex Corp (OTCMKTS:CDXC)’s dollar volume ($538 thousand) wasn’t quite as impressive, but it too managed a double-digit gain.