Sigma Labs Inc (OTCMKTS:SGLB) Crashes Hard
In an unexpected turn of events, the share price of Sigma Labs Inc (OTCMKTS:SGLB) took a serious nose dive right before the closing bell yesterday. By the market’s close, SGLB got shoved to a close nearly 23% in the red. Volume swelled dramatically right along with the price slip just ahead of the bell and the ticker shifted its biggest daily volume for the past three months.
There was no observable trigger for yesterday’s drop. The company is pushing ahead with no dramatic announcements that could have caused such a stir. If the information published by the OTC Short Report is to be believed, short volume for SGLB stock went through the roof yesterday, which may have been part of the reason for the drop.
The company’s latest report is a 10-Q covering Q1 of this year and contains the following:
- $2.49 million in cash
- $143 thousand in total liabilities
- $185 thousand in Q1 revenues
- $371 thousand in Q1 net loss
Sigma announced a conference call to discuss Q2 financial results will be hosted this Friday. The company’s latest filing is an 8-K detailing the joint venture with Arete Innovative Solutions LLC that Sigma officially announced in late June.
Whether the drop is a freak accident or the start of something more remains to be seen. When Sigma comes forward with its second quarter figures in another couple of days, the stock price will no doubt react again and then traders will have solid information to make their decisions on, not just short selling scares and hopes.
