After trading in a narrow range for last couple of months, on Tuesday’s trading session the stock price of GLOBAL DIGITAL SOLTN (OTCMKTS:GDSI) broke its range and jumped more than 185% to close at $0.00400. The gains came at a share volume of 158.99 million compared to average share volume of 21.47 million.
GLOBAL DIGITAL has a most dismal chart excursion in this year. After trading at more than $0.10 in the spring, the stock price managed the remarkable feat of declining to the bottom of double zeroes in recent trading sessions. Over the last few months, the stock plunged over 95%, declining from 5 cents per share in August to its latest close at $0.00400.
GLOBAL DIGITAL last published any PR on August 24, 2015 following which the stock closed 2% up. That green close, however, was crushed between two massive declines of 35% and 27%. In fact, GDSI comes in the list of the most volatile OTC stocks. Within the past one month, the stock recorded just six trading sessions that were not a double-digit move in either direction.
However, the overall momentum the stock has been witnessing in for months is, quite clearly, down. As per the latest report issued by GLOBAL DIGITAL, the cash came at $147,000 and current liabilities were $1.59 million. The revenue for the period January 2015 to June 2015 was $379,000 while net loss was $2 million.
These numbers can in part justify the decline of GDSI on chart. Another reason for the dismal performance could be the Notes Payable segment, which highlights a number of convertible notes with massive, fixed 40% discounts from the lowest rate over the last twenty days prior to conversion. Some of the noteholders are LG Capital Funding and JMJ Financial.
GLOBAL DIGITAL SOLTN (OTCMKTS:GDSI) enjoyed a very exciting day as it finished the last trading session with a huge gain of 185.71%. The volume of the day surged to 158 million, many times higher than the daily average of 27 million in a very stark contrast to the poor volume days of the last few days. The price was trading in a very narrow range for the last few months with a visible contraction of volatility. This short term breakout may be the initial signal of a turnaround in the intermediate term too but the following sessions would have to provide follow up price action.