Hangover Joe’s Holding Corp (OTCMKTS:HJOE) is starting to roll over on a positive side as the last trading day was no different than the recent days, when the company recorded an exceptional gain in its value. The magic rally happening around the stock can be accredited to the series of hype based content available on the social media platforms.
The latest development
The company’s latest press release came early this month, which noted that its Git-R-Done drink is set to feature on FIY Network’s ‘Food Factory USA’ on the upcoming June 4. Little was the impact on Hangover Joe’s Holding Corp (OTCMKTS:HJOE)’s stock price following the news release but the momentum picked up during late last week.
One argument in favor of the sudden rally in the stock price is that the company had flooded its Twitter handle with a number of hyped-up posts. This is evidenced from the fact that in a matter of just seven das, Hangover Joe’s Holding Corp (OTCMKTS:HJOE) published as many as 117 Twitter posts. However, this does not turn the attention away from the some of the real facts that hold higher significance than informal Twitter posts.
It is to be noted that Hangover Joe’s Holding Corp (OTCMKTS:HJOE) is already running overdue on submission of its annual report. The company was supposed to post its annual report on March 31, 2015, which was later extended by 15 days. But, even after a lapse of one-month, there is no hint of the same annual report coming live soon. Resultantly, the stock ticker has been marked as “Limited Info” on OTC markets. Also, the company’s last financial report was not impressive but rather concerning. As per which, the company held $48,000 in cash while its current liabilities accounted as much as 42.8 million.
The quarterly revenues posted by the company amounted $48,000, but its quarterly net loss stood at $592 million. Over and above this, one cannot ignore the enormous and alarming share dilution activity that took place recently, leading to an increase of common outstanding shares to 1.74 billion in March, 2015 from 331 million in November 2014.
The stock of Hangover Joe’s Holding Corp (OTCMKTS:HJOE) was up by 60% to $0.00160 during the previous trading session, when nearly 66.37 million stocks traded hands.