WMIH Corporation (OTCMKTS:WMIH) Rising In The Charts
[[tagnumber 0]][[tagnumber 1]]We saw the stock of WMIH Corporation (OTCMKTS:WMIH) rise earlier in this year, but it reached a price of $3 per share and began to slide. It attempted to regain the lost value in July before returning to a downward slide once again, reaching a low of $2.26 per share in the beginning of this month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Since then, however, the ticker has made a good chart performance for no apparent reason. The last time we saw some news from the company was way back in the middle of August and we reckon that yesterday’s reminder of the financial situation in [[tagnumber 6]]WMIH[[tagnumber 7]] wasn’t the reason for which the ticker began to jump.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Speaking of numbers, let’s take a quick look at what the company had to show at the end of the second quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 15]] [[tagnumber 16]]cash: $39.24 million[[tagnumber 17]] [[tagnumber 16]]total assets: $717.63 million[[tagnumber 17]] [[tagnumber 16]]total liabilities: $203.14 million[[tagnumber 17]] [[tagnumber 16]]quarterly revenues: $1.47 million[[tagnumber 17]] [[tagnumber 16]]quarterly net loss: $73.48 million[[tagnumber 17]] [[tagnumber 26]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Although these numbers are pretty impressive for a company whose stock is being currently traded on the OTC markets we see that the revenue has been declining while the net loss has been growing compared to previous years.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]That fact and the lack of other news makes the recent upward run rather strange. Yesterday we saw [[tagnumber 6]]WMIH[[tagnumber 7]] add 8.19% to its value and close at $2.51 with a total of 282 thousand traded shares and a daily dollar volume of $687 thousand.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It seems, however, that this is as far as the ticker can go, as it is sitting 1.63% in the red a few hours after market open today. [[tagnumber 2]]
