Unisource Corp (PINK:USRC) Sinking Like a Stone

Unisource Corp (PINK:USRC) has been falling to pieces for the last few days or so and there are hardly any updates that could suggest what is going on inside the company. Anyway, the stock is crashing down big time showing no sign of slowing down.

Yesterday, USRC shares closed trade at $0.114, down 84% from their previous close on Tuesday. The preceding session on Feb. 20 was just as bad with USRC writing off another 28% of its value. Thus, USRC shares have lost a cumulative 89% in just two days of trading, and are now nowhere near the $1.00 benchmark.

Neither recent news, nor paid promotions seem to be the driving force behind USRC‘s meltdown on the charts. What is known, however, is the company’s recent acquisition of 75% of the stock of Visionship, Inc., a privately held developer of cloud-based supply chain applications. The transaction was closed last November, which is exactly when Unisource got OTC PINK Current Information provider.

USRC‘s new strategy following the merger with Visionship is mainly focused on acquiring logistics technology providers, as well as third party logistics companies. Whether it will meet with success in the foreseeable future remains to be seen. Yet, the lack of any developments since mid-November definitely raises a red flag about the management’s capability of handling the situation the right way.