Will Lifelogger Technologies Corp (OTCMKTS:LOGG) Finish The Week Green?
Lifelogger Technologies Corp (OTCMKTS:LOGG) managed another green session yesterday, climbing 10.29% up before the final bell arrested its ascent. But will its luck hold in today’s trading session?
Evidently, more than a few investors think that LOGG stock was undervalued at $0.167, and heavy buying has pushed the ticker toward its previous price. Put simply, the bad publicity afforded by the SeekingAlpha article and LOGG‘s mediocre quarterly report seems to have dissipated already.
Although this is doing wonders for the ticker, it is not necessarily a good thing. After all, the company’s poor financials are not to be dismissed out of hand:
- cash $81 thousand
- total current assets $89 thousand
- total current liabilities $55 thousand
- NO REVENUES
- net loss $290 thousand
The fact that LOGG has missed pretty much all the deadlines it set for itself also should not be disregarded. As we’ve mentioned, private beta testing of the company’s software platform should have begun four months ago, and an open beta test was supposed to begin this month. Neither of those events seems anywhere in sight.
So while it seems like LOGG may have a good chance to continue its recovery, said recovery isn’t really based on its achievements to date, which makes it baseless.
This puts the ticker in a most precarious position. Suffice it to say that it could be knocked down from its perch at any time, so dedicated investors and opportunistic traders looking to make money out of it should not let their guard down.
