Nelly Shishkova

8000 INC COMMON (PINK:EIGH) Rushes Down On Huge Volume

by Nelly Shishkova October 15, 2010
8000 INC COMMON (PINK:EIGH) has been falling down progressively over the last 10 days. Yesterday, the stock lost additional EIGH_chart1.png61.54% of its price, while its volume hit over 16 million shares traded.

Apparently, traders are getting disappointed by EIGH, so they are dumping shares intensively and the stock is rushing down.

The latest news released by 8000 Inc. dates from yesterday. It is a statement by the company's Board of Directors, according to which "8000inc contracted industry experts to assess current market behavior of its stock and to advise the company on the management of the share count discrepancy in line with exchange progression".

In reference to the matter, EIGH announced that the company made a mistake in its assumptions related to the announced dividend and it was already canceled.

800inc_logo.gifLast week, 8000 Inc. apologized for the delay in issuing its investor update after it has undertaken a stock audit of its common shares. Apart from this news, no more announcements on EIGH have been published this month.

Although the company made some efforts to pump up its shares price in September, EIGH stock position remained unstable and it entered into a new downtrend this month.

According to the records, the quarterly results of 8000 Inc. are not much satisfying and the company's management pointed out that its financial statements "have been prepared assuming that the company will continue as a going concern". The team stated that there were no changes in the shareholder equity and that 143,824,000 shares in total have been issued and outstanding on June 30, this year.

8000 Inc. still plans to get profitable this year, however, its stock price keeps jumping up and down and the future is up to be seen.

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