Stock Free Fall Yesterday
Dallas, Texas 11/15/2013 (Financialstrend) – The share price of this penny stock THEDIRECTORY.COM INC (OTCMKTS:SEEK) has seen a 52 week high price of $0.01. When trading began yesterday, the stock was trading at $0.004 per share. During trading yesterday the stock contracted by a huge 40% to settle at $0.0024 per share when trading was suspended for the day. Through the day close to 106.45 million shares of the stock changed hands and was in fact less than its daily average trading volume. At current valuations
Weak Quarter Returns
The sell-off in the stock occurred due to disappointing results announced from its operations between June to August 2013. The sell off was moderated by timely release of some positive news by the firm for its operations in October. The $9.98 million market capped THEDIRECTORY.COM INC (OTCMKTS:SEEK) announced that it has managed to raise sales bookings of $0.25 million in the month of October.
Analysts have been pointing out that the online search engine tool would soon have to come out with strong operational results if it expects to survive as a viable business. They have warned that the fell good press releases will soon run out of steam and the stock will go into a free fall if the management does not pull up its socks soon.
The troubling aspect of THEDIRECTORY.COM INC (OTCMKTS:SEEK) operations is that it has very limited cash at hand of ten thousand dollars which will not help the firm in staying afloat if its revenue stream does not pick up soon. Its current assets are around $0.4 million and accumulated liabilities add up to $1.4 million. With such huge accumulated losses and next to zero cash at hand the firm would find it difficult to raise additional capital if its operations do not pick up.