Hangover Joe’s Holding Corp (OTCMKTS:HJOE) Crashes Horribly
Hangover Joe’s Holding Corp (OTCMKTS:HJOE) started yesterday’s session incredibly high, on account of an optimistic press release, but immediately plummeted and ended up losing 10.00% of its market value by the time the final bell arrested its descent.
As is to be expected, the press release announcing “a long term agreement with Specialty Marketing Systems, LLC” did stir investors into action. However, it was clear that the volatility that the announcement afforded would carry the ticker only so far before dragging it right back to the bottom from which it had just risen. Why?
Because HJOE may talk big, but that’s all it does. The company’s management team seems intent to get investors all hyped up through press releases and social media posts, but bring literally no evidence to support its boasts.
Let’s just say that the company has issued TEN optimistic press releases since the beginning of 2015, while failing to submit even ONE financial report that has been due since that time – including its annual report for 2014.
This fact points at two huge red flags – firstly, the company does not appear to be taking its responsibility towards its investors very seriously, keeping them in the dark like that.
Secondly, since there are ten whole PRs since then, it’s not like HJOE can’t afford to spare the time or the effort to publish a current report – which makes its behavior even more suspicious. Is it hiding its bad results? Has it accumulated massive amounts of debt that are now being turned into common shares and flooding the market? Its share structure was horrible back in March 2015 – how much worse off is it now?
These are all questions investors should think really hard about before dealing with HJOE stock.