Team Nation Holdings Corp. (OTCMKTS:TEMN) Remain A Volatile Choice
Team Nation Holdings Corp. (OTCMKTS:TEMN) captured the attention of the market with its press release from last Thursday. The stock surged by exactly 160% on the day of the announcement with the record number of 474 million shares changing hands. On the very next day though TEMN crashed right back down after it wiped close to a quarter of its value and finished the week at $0.0059.
After the weekend the volatile performance continued with full force – a 47% gain posted on Monday followed immediately by a 17% loss. Despite the negative outcome yesterday’s trading wasn’t a straight drop to the bottom. In fact TEMN managed to reach its new 52-week high of $0.0095 but failed to sustain such high price levels. The stock is more than likely going to remain extremely volatile until more information about the current operations of company has been disclosed.
The PR that sparked the recent climb revealed that the company has now officially changed its name to Top Shelf Brands Holdings Corp. with the next step being a ticker change and a possible uplisting out of the pink sheet tier. Another positive move was the decision to reduce the amount of outstanding shares from 5 billion to 2 billion. Even the recently filed annual report showed that TEMN finished 2013 with a positive bottom line:
- $44 800 cash
- $232 thousand total current assets
- $498 thousand total current liabilities
- $62 thousand revenues
- $32 thousand net income
Not everything is going smoothly though. Back in January TEMN had some troubles with 60 preferred shares and 1 billion common shares. The company delivered the shares to its former Transfer Agent for cancellation but the TA failed to do so and there have been no updates on the situation since then.
TEMN is making some rather bold projections for the future of its distilled spirits but for now they still need to show they can actually fulfill them. Do your own due diligence appropriately and try to take into account the volatile performance of the stock before attempting any trades.
Another stock that suffered a crash during yesterday’s trading was MyECheck, Inc. (OTCMKTS:MYEC). The company filed its annual report for 2013 on Monday and apparently investors were far from thrilled resulting in a 28% drop to $0.052. United Treatment Centers, Inc. (OTCMKTS:UTRM) managed to save its stock on Monday through a PR issued early in the morning but yesterday the corrections continued. UTRM slashed more than 11% and closed the day at $0.0082.
