Sigma Labs Inc (OTCMKTS:SGLB) Recovers Some of Its Losses
On Tuesday, right before the closing bell, Sigma Labs Inc (OTCMKTS:SGLB) lost its footing and plunged downwards finishing the day with a loss of 23% at $0.0501. Although the crash was quite severe there wasn’t a clear catalyst for it and yesterday the ticker was able to bounce by close to 8% returning to $0.054 per share. Although the 3.8 million shares that were exchanged yesterday were lower than the volume from the previous session they were still four times higher than the monthly average for the ticker.
Sigma Labs are definitely among the more stable pennystock ventures out there. The company finished the first quarter of the year with:
• $2.5 million cash
• $2.7 million total current assets
• $143 thousand total current liabilities
• $185 thousand revenues
• $371 thousand net loss
Despite the sizable cash reserves, minimal debt and respectable revenues the stock of the company has been forming one depressing chart pattern for the past couple of months. Compared to its April high of $0.125 SGLB are currently sitting over 56% lower. Sigma are also approaching their authorized amount of 750 million shares having 623 million outstanding shares as of May 14.
The short-term direction of the ticker is more than likely going to be decided during tomorrow’s press conference when SGLB will discuss their financial results for the second quarter of the year. The company plans to release the numbers prior to the market open.
Investors are hoping that the revenues for the period will be much higher putting the company one step closer to becoming a profitable entity. If this will indeed be the case remains to be seen.
