Soul and Vibe Interactive, Inc. (OTCBB:SOUL)’s Stock Can’t Decide Where It’s Heading
Soul and Vibe Interactive, Inc. (OTCBB:SOUL) is a game development and publishing company, whose stock quickly ran up the charts recently, but lately it is going in both ways with price movements that chancel each other every day.
The stock of SOUL jumped a whopping 891% in the period between July 18 and July 26. After that, however, it is swaying in both directions with high volumes of traded stock. They don’t have a long history of trading, but the recent amounts of traded stock are so far their largest.
Even though they are finishing some sessions in the red they are still at peak price for the 8 month period that they have being traded and are proud to be above $1. Yesterday they lost 7% of their price after they managed to regain 17% in the previous day.
The stock went from $1.39 to $1.29 even though they gapped up and opened at $1.425 with a total amount of traded shares that came at 6 million. The amount of shares that switched hands helped generate a trade value of $8.3 million, which put them on the top of our list for the biggest winners in the OTC Markets yesterday.
They are trying very hard to boost the interest in their stock and even resorted to paid promotional campaigns, but after the last email came on July 25 they were not able to continue the momentum they gathered price-wise and are going nowhere.
Even though they are making optimistic press releases and the CEO is taking drastic measures in order to boost investor confidence it seems that it’s just not enough. They don’t really have any current products and the first one is to be expected at the end of Spring 2014.
Another bad sign is the lack of cash and the current progress on the only game that they have a trailer of on their website. Even though it is noted that the trailer “is not representative of the quality of the final game” any hardcore gamer will notice that they are using old graphics engines from which we can’t expect much more.
Having all that in mind we can say that with the rapid increase in price and current lack of revenue producing products they are a risky bet, even having in mind the fact that they made a deal with Vuzix Corp. (OTCBB:VUZI) for the development of gaming content for their smart glasses. They are yet to produce something of quality for other platforms and this statement comes very early, and if ot comes true that’s probably not going to happen in the next year or two, or even three.
Another company that came to a halt after a period of high gains in price is Affymax, Inc. (OTCMKTS:AFFY), who registered their first session in the red after 5 days if going up. It wasn’t that big of a loss with only 1.14%, but it still halted their ascent and they are continuing to fall today, with 4.05% down in over an hour of trading, being currently nested at $1.66
