Yesterday the share price of Platinum Studios, Inc. (OTC:PDOS
, PDOS message board
) surged up after the company announced a new press release early in the morning. Previously, the persistent downtrend had led to a new yearly low, but recently it looks like the stock price may start to increase for some unknown reason.
PDOS closed the last trading session with a 27.27% jump in the share price at $0.0014 on a trading volume of 47.52 million traded shares. Thus after the long depreciation in which PDOS lost the largest part of its value within a year, now it looks like the trend may reverse. RSI is now pointing up and the MACD lines have crossed.
Platinum Studious is most probably by far not in a good financial condition as the company has not provided any current data on its financial results and operations. The last report is more than two years old and according to its PDOS had in June 2009 current liabilities for more than $9.8 million, and another $11.4 million in long-term debt against total tangible assets of around $1 million.
Nowadays, a single press release has proven good enough to revive the trading with PDOS shares. Before market open yesterday, the company announced it would release the werewolf action-horror story BIG BADZ as a digital novel on many standard formats, among which on Apple's iOS and Android.