Vuzix, Inc. (OTCBB:VUZI) Pressured Down Again
Vuzix, Inc. (OTCBB:VUZI) would not leave investors entirely comfortable, and is not in a hurry to recover its prices from before the public offering. VUZI now stands at $2.30, after sliding down more than 8% on trading of $590,000. But the mood surrounding VUZI is generally positive, with some talk concerning temporary shaking down of the stock, only to benefit from higher prices. Now, the end of the week should show where the mood for this stock is heading.
The recent financial announcement revealed VUZI has all the resources to go on:
- $80,922 cash
- $1.2 million total current assets
- $7.9 million total current liabilities
- $700,195 total sales
- $1.65 million net loss
But so far, the stock has not played explicitly on its greatest potential buzz, that it could be a close competitor to the Google Glass product, which for now is slowed down and won’t appear before 2014.
Currently, VUZI has a bit above 9 million shares, after decreasing the stock in a 75 for one reverse split in June. The new issue of 3.5 million shares and warrants will be felt in the next few months, and may change the game and price range significantly. There is still no target date for a NASDAQ uplisting, but news and speculations may move the stock.
Directors have announced a holding of shares bought at below-market prices, though the amounts are small and may affect the market only in the short term.
VUZI is also listed on the Toronto Stock Exchange, and some price pressure may come from foreign holders. Still, VUZI is so far moving within reasonable borders, without concerning price swings such as a promotion often causes. A promotion is not out of the question for this stock, and with so much activity pumpers may pick it up for free to attain their own earnings or improve their records.
If you need a spare technological stock with close characteristics, ImageWare Systems, Inc. (OTCMKTS:IWSY) is still hanging around, with small daily changes and mid-range volumes. The stock stands at $2.40 after trading on volumes above $740,000. The daily gain was a bit below one percent.
The other intriguing ticker, Liquidmetal Technologies, Inc. (OTCMKTS:LQMT) recovered a little, adding 8% to stand at 14 cents.
If you are ready for surprises, prepare yourself well with research before choosing a ticker. The tech industry may look solid, but every stock has its specific pressures and it is best not to rely too much on a positive outcome for all.