Divided Opinions on Glassesoff Inc (OTCBB:GLSO)

8GLSO.pngGlassesoff Inc (OTCBB:GLSO)’s stock performance over the last week or so has been quite interesting. Active trading started after, on December 10, the company announced that they have launched their Glassesoff app for iOS devices and has been going strong ever since.

As you probably know, the application is supposed to use a really interesting technology that should help improve the user’s near vision which inevitably degenerates with age. It’s an appealing concept and, at first, investors seemed really excited about it. The volumes started picking up and the price followed suit. The ticker closed last Friday’s session around $2.50 per share and some traders thought that this is just the beginning.

This week, however, is proving to be a little less optimistic. On Monday, the ticker slipped by 1.2% and yesterday, it registered another red session, this time losing around 4% of its value. So, what is causing the correction?

Some people will probably argue that this is just a healthy consolidation that is a part of a bigger run up the charts and while this is definitely a possible scenario, there might just be another cause.

If you have gone through our previous coverages on GLSO, you probably know that the excitement around the newly-born ticker is quite a lot. In fact, it seems to be too much for a company that has yet to show us how their product is performing in terms of revenue generation.

Zacks Small-Cap Research were the first to start talking about GLSO back in October when they wrote a 27-page report and since then, Seeking Alpha contributors have been quite optimistic about the future. We can see that there is no shortage of enthusiasm and, in the interest of fairness, there are some factors that investors might find appealing.

The interesting technology is one such characteristic and the relatively stable financial position (which is rare for a penny stock that is just starting to develop its new business plan) is another. If you take a more realistic approach, however, you’ll see that predicting the chances of success with any degree of certainty is, at this point at least, impossible.

Apparently, an author who likes to call himself Investor RockieK saw that and decided to write another Seeking Alpha article dedicated to GLSO. As you might imagine, he was less optimistic than his fellow-contributors and exposed some factors that could potentially put a spanner in the works. His arguments appeared on Monday and it’s clear that quite a lot of people have read through his arguments and are now a bit more hesitant.

You should bear in mind, however, that making a decision based on somebody else’s opinion is never a good call which is why, as always, we would advise you to do your own due diligence and decide for yourself whether GLSO really is a worthwhile investment or not.

Make sure to keep a close eye on the pumpers though. As we mentioned in our previous coverages, there are many things that could potentially put GLSO under the promotional spotlight and although there is still no traces of an organized campaign, 67ENIP.pngyou can never know what is going to happen next in Pennyland.

Speaking of promotions, one of the older OTC pumps, the one for Endeavor IP, Inc. (OTCBB:ENIP), has been revived over the last couple of days and yesterday’s gains of around 18% suggests that the renewed efforts are paying off. Tiger Oil and Energy Inc (OTCMKTS:TGRO) also managed to register a green session on Tuesday and finished the day around 6% above Monday’s close.

You may also like...