ImageWare Systems, Inc. (OTCMKTS:IWSY) Drops on Considerable Volume
After the stock price of ImageWare Systems, Inc. (OTCMKTS:IWSY) more than doubled in two short months, climbing to $2.67 per share on Monday, yesterday’s session brought this to a halt and IWSY closed 13% in the red on its heaviest volume for the last six months.
The last excited hiccup in price happened last Friday when IWSY climbed 14% and generated a volume comparable to yesterday’s. Monday saw a slowdown in both the percentile movement, as well as the share volume traded. It looks as though IWSY could not sustain its explosive price run or someone decided not to take any further risks with the stock and cashed out their position.
IWSY is a biometric solution developer and vendor. To the company’s credit, their chart climb happened without any detectable promotional stock pump campaign – something that cannot be said for many explosive penny gainers who end up crashing long and hard once the pumps stop. The company had the following financial figures to show as of its latest quarterly report:
- $2.2 million in cash a/o March 2013
- $3.4 million in current liabilities a/o March 2013
- $856 thousand in quarterly revenue
- $2.7 million in quarterly net loss
Despite the sizable cash on hand, IWSY is struggling to turn profitable and ended 2011 and 2012 with a cumulative net loss of over $13 million. This fact, combined with the rather high share price may scare some penny lovers away but short-term traders who managed to ride the uptrend over the last couple of months still have a chance to scoop profits.
Other stocks that slipped in yesterday’s session include Dephasium Corp. (OTCMKTS:DPHS) who fell by 41% after a new round of pumps flattened the stock. American Graphite Technologies, Inc. (OTCBB:AGIN) had 10% sliced off their price yesterday, despite a slower share volume.
