Jammin Java Corp (OTCMKTS:JAMN) Moves Up On Record For 2015 Volume
The 30-day average traded volume for the stock of Jammin Java Corp (OTCMKTS:JAMN) is around 184 thousand shares. Yesterday, however, investors shifted more than 5 times that amount as the daily volume surpassed 2 million shares. Despite the tremendous increase in interest the ticker finished the day with a modest gain of 10% at $0.22 per share. But what was the reason that suddenly drove investors towards the stock?
As we have said on quite a few occasions in our articles about the company unlike the majority of the other pennystocks the media exposure for JAMN is massive. And the catalyst for yesterday’s trading was exactly that – the CEO of the company did an interview with Fox Business and the video was put online early in the morning. It certainly captured the attention of the market but it remains to be seen if the company can sustain the positive momentum.
Despite the rather volatile chart of the stock JAMN‘s operations have continued to move in the right direction and the company is posting better and better results. The financial report for the quarter ending April 30 showed that JAMN finished the period with:
• $72 thousand cash
• $1.97 million total current assets
• $3.87 total liabilities
• $2.7 million revenue
• $1.19 million net loss
The cash reserves definitely raise some concerns and the net loss is still significant but compared to the same period last year nearly all of the numbers show signs of improvement. The revenues increased by 27.9% while the net loss decreased by 37.4%.
On August 6 JAMN published a new PR in which they discussed the anticipated financials for the quarter ending July 31. This will be the 17th quarter in a row of year-over-year revenue growth – sales for the period are expected to reach approximately $3.2 million, which is 53% higher than the same period in the last fiscal year. During the quarter the company also anticipates to incur its lowest losses to date with the month of July actually ending with a $25 thousand profit, if the non-cash expenses are not taken into account though.
The company has some big plans for its current fiscal year – the Marley Coffee began its distribution in South Korea while at the end of July the recyclable EcoCups were launched. According to its projections JAMN expects to become a profitable entity by the end of the fourth quarter of the company’s current fiscal year.
If Jammin Java are able to deliver on their promises and their business continues to grow the stock could surge up the chart to higher price ranges. For now though the ticker could remain highly volatile and doing your own due diligence before committing to any trades is always for the best.
