MacroSolve, Inc. (PINK:MCVE
, MCVE message board
) hasn't been performing well on the stock market lately. In the last two sessions MCVE has recorded two new 52-week lows, despite being promoted
, or exactly because of it.
At the closing bell a MCVE share was worth $0.058, 14.71% less than yesterday. The volume of 334 thousand is slightly above the average.
A number of promotional newsletters disclosed a $5 thousand compensation for covering MCVE. The company hasn't had a solid financial performance, either, so the promoters focus on the potential gains from the lawsuits MCVE filed against some big companies.
While it's true that favorable outcomes of the lawsuits could result in financial gains for MCVE, it's not certain they will win in court, and even if they do, a better performance on their part would be much more valuable.
In theory, MCVE should be able to perform much better business-wise, but it seems the company is not quite there yet, and losing money is not something a business can afford to do for too long before investors give up on it.
At any rate, now MCVE is in trouble. The recent announcements about the Small Cap Conference, and the launch of the Corporate Profile mobile app. didn't do much more than bring the price of MCVE stock down. It will be interesting to see if MCVE can manage to get out of this slump.