Where is Cal-Bay International, Inc. (OTCMKTS:CBYI) Going
After the impressive run that was generated after Cal-Bay International, Inc. (OTCMKTS:CBYI) came back in business seemingly out of nowhere, the ticker started having trouble as more and more information became public and things aren’t looking rosy.
The upward trend quickly gave way to a very inconsistent movement in price and the volumes in which the stock was traded dropped substantially. We reckon that the low price is the only reason that the ticker is not dead after the company posted the updated financials and it became evident that they have been going nowhere since the last time they reported in 2011.
Yesterday’s session was one of the worst that CBYI recorded recently, because not only did they drop in price, but the volume was extremely low.
The intraday charts show that there was no concentrated dumping of stock, but the spikes in volume that we see with the first signs of a price increase show us that some people was eager to shed their holdings and keep losses to a minimum.
There were big drops and peaks in the price, but at the end of the day CBYI closed the session with a 17% loss in value and a total of 51 million shares that had switched hands, generating a trade value of $76 thousand.
We don’t see the press releases filled with booming statements that were exciting investors recently and it seems that whoever wanted to profit from the ticker has decided to put it on hold for the moment.
With its low price per share, CBYI remains to be an interesting pick for anyone who is looking for a speculative play, but be sure to do your due diligence and weigh out the risks.
On the other hand Globalstar, Inc. (OTCMKTS:GSAT) are continuing to rule the OTC Markets in terms of dollar volume with $3.5 million. Medical Marijuana, Inc. (OTCMKTS:MJNA) isn’t staying that far behind with $2.5 million.