The year has not started well for a number of OTC firms including Axxess Pharma Inc (OTCMKTS:AXXE). The stock price traded above the 20 cent a share in January. However, it was short-lived and the prices plunged down on the charts and registered a low of $0.062 in March.
The buzz
Axxess Pharma stock got a boost after FDA granted it permission to sell some of its TapouT branded products. At that time, the company projected $2.5 million in YOY sales which was appreciated by the investors. As a result, the stock posted strong gains on high volumes. It appears that investors have come face-to-face with reality and readjusting their positions, the impact of which is evident on AXXE stock price.
The performance
As per the latest financial report, Axxess Pharma reported cash of $8,621. The current assets came at $241,696 while current liabilities stood at $4 million. The annual revenues and annual net loss came at $76,797 and $4 million, respectively. The financial performance clearly indicates that Axxess Pharma stock can continue its bull run and fetch more investor attention. As the price declined, neither the pumps nor the press releases came to support the falling stock price.
The pumps
Axxess Pharma Inc (OTCMKTS:AXXE) stock has remained a target of pumps and the latest wave of promotional emails started to circulate in this week. It might explain why AXXE stock price closed 12.05% down on Monday’s trading session, priced at $0.073 per share. The daily share volume was almost double the average as 2.18 million shares changed their owners and generated daily trade value of $160,000.
In last trading session, the stock price of AXXE gained more than 1% to close the trading session at $0.0795. The gains came at a share volume of 2.66 million compared to average share volume of 1.02 million.
