Glassesoff Inc (OTCBB:GLSO) Slips Below $2
It was Zacks Small Cap Research who first started talking about Glassesoff Inc (OTCBB:GLSO) when they published a research report back in October. Their disclaimer isn’t particularly specific when it comes to the question of compensation, but we should say that in this instance it’s not really that important since, as Zacks are only too happy to acknowledge, GLSO managed to reach the $2.30 price target just weeks after the report went live.
Apparently, because of this, Zacks decided to update their coverage on GLSO and this time, the price target is much more ambitious – $4.50 per share. Will the ticker reach those levels though?
Some of you will probably say that since it managed to outperform Zacks’ predictions once, there’s nothing to stop it from doing it again. Then again, it’s clear that things are not off to the best of starts.
GLSO registered four red sessions in a row and managed to drop from just under $2.50 per share to $1.99. Yesterday’s trading was particularly painful when 225 thousand traded shares resulted in a dollar volume of just under $464 thousand and an 11.56% decrease in the price. All this after, about an hour before the opening bell, GLSO announced that their app has been ranked #1 in the medical category on the App Store.
That, you would agree, is quite an achievement for an application that was launched just eight days ago and the reaction from the traders is absolutely baffling considering the fact that a high ranking suggests a lot of downloads, but will these hits get transformed into revenues?
It’s still too early to say for sure. One of the main arguments that skeptics employ is the fact that GLSO‘s app is not the cheapest proposition out there. In fact, at $59 for four months, it might be out of reach for most people. At the moment, the Pro version can be purchased for $9.99 but the page on the app store fails to inform us if this price is going to cover four months’ worth of usage or less.
All in all, the lack of information is frustrating for the people who are considering GLSO as a long-term investment and it’s also quite strange. On October 1, the company announced that they have hired world-famous PR firm, M&C Saatchi who were supposed to lead a global public relations campaign during the fourth quarter of 2013. The fourth quarter is almost over and we’re still struggling to see the results of the aforementioned PR.
This means that, at this point, GLSO remains a speculative play with quite a lot of excitement going on around it. That’s why, treading very carefully and considering all the risks is absolutely essential before putting any money on the line.
Another ticker that performed poorly during yesterday’s session is Kleangas Energy Technologies Inc (OTCMKTS:KGET). KGET managed to wipe out a third of its value after the company announced some details around a share exchange agreement which is supposed to be closed soon. Tiger Oil and Energy Inc (OTCMKTS:TGRO), on the other hand, managed to jump up by around 21% shifting more than $3.6 million worth of shares. The run shows that the pump for TGRO is far from over.
