Golden Edge Entertainment Inc (OTCMKTS:GDEE) On The Slide
tags: GDEE
Golden Edge Entertainment Inc (OTCMKTS:GDEE) got almost no investor attention and often finished sessions without a single traded share. This, however, quickly changed in the second half of last month and we saw the ticker gain quite a lot of altitude on increased volumes.
The reason for which GDEE managed to maintain such a prolonged upward run was rather trivial – the company stock had been pumped and they were directly paid by GDEE for their efforts. And while the company management seems to think that it is perfectly fine to pay $8 thousand for a paid promotion its latest financial report show that it’s in a dire state.
- total assets: $7 thousand
- total liabilities: $90 thousand
- revenues: ZERO
- net loss: $25 thousand
Those numbers certainly lack appeal, but that hasn’t stopped GDEE from gaining massive altitude. Its market cap stood at around $45 million at its peak, which is quite high, considering the contents of its latest financial report.
This is why it was certainly going to come down and it was only a matter of when that was going to happen. GDEE might have begun its downward fall, as it showed some hesitation last week and dropped a further 16.36% yesterday, closing the sessions with a price of $1.84.
The ticker is already lost a quarter of its value in today’s early trading, but the market cap of GDEE is still over $30 million. In any case, be sure to do your due diligence and weigh out the risks before putting any money on the line.
