Montalvo Spirits Inc (OTCBB:TQLA) Gathers Momentum In a Downward Direction
The market is usually quieter in Friday and we don’t see a lot of trading going on. However, this is not the case of Montalvo Spirits Inc (OTCBB:TQLA) and their Friday trade session in which they had the biggest percentile movement in a downward direction since they started losing value at the beginning of last week on the highest volume of traded shares in a while.
The stock of TQLA is going through a tough period lately and the recent promotional campaign that was initiated with no compensation from any thind parties didn’t do what it was supposed to. The optimistic press releases aren’t working either and it seems that no one is taking the news for a definitive distrubution agreement of Broken Heart Gin to heart.
TQLA lost a total of 41% from their stock’s value in the past week, which we are sure wasn’t very pleasant for the people who were thinking of going for the long-run with them, especially considering that they are failing despite the seemingly optimistic development of their business.
Friday was probably the worst day of the week, because we saw the biggest percentile loss from all the recent trade sessions. The company’s stock fell 17.84% down on a volume well above their average of 337 thousand. The total amount of shares that switched hands while the stock was moving from $0.527 to $0.433 came at 597 thousand and generated $264 thousand in trade value.
It all seems the notification of inability to timely file their financial report for the second quarter of this year might be considered as the reason for the momentum they have gathering in a southern direction lately. Investors might be unprepared for a longer wait for the financial data and thinking that the company is having some troubles despite the optimistic PR, so they might be shedding their holdings before things start to look sour.
In any case, be sure to do your due diligence and weigh out the risks for yourself, because if the information in the awaited report isn’t to the liking of the investors the situation will start looking very grim.
The most interesting surprise of the past week was SourcingLing. Net, Inc. (OTCMKTS:SNET), who exploded in Thursday with a mind-blowing 728% gain and more than 15 times their average volume of traded stock. The end of the week for them, however, was not surprising and they lost 34.48% in price, but continued with the high volumes with a total of 4 million traded shares and a trade value of $991 thousand.
On the other hand Medical Marijuana Inc. (OTCMKTS:MJNA)’s stock managed to stabilize after the big gain it had in the beginning of next week and the subsequent fall. Unlike Growlife, Inc. (OTCBB:PHOT) they had only 1 session with a big drop in Tuesday and are hovering around the $0.160 mark since.
