Where Will Envoy Group Corp (OTCMKTS:ENVV) Head Now?
Envoy Group Corp (OTCMKTS:ENVV, ENVV message board) remained more or less stationary on Friday and finished exactly where it started that session – but where will the ticker go now?
Well, as is the norm with over-hyped OTC Markets pinksheets tickers, there is no completely reliable way to predict that. However, there are some factors that may give investors a hint as to where ENVV might head next.
The announcement that the company has signed a consulting agreement with McCarthy Consultant Services Inc. could be viewed as a positive news, and it will probably attract attention.
However, seeing as how very little is known about said entity, that news becomes quite irrelevant once you start reading into it. The fact that there is no 8-K filing on the matter doesn't add much credibility to ENVV's claims, either.
And speaking of lowering credibility, one would be remiss not to mention the numbers that can be found in its latest financial report:
- Total assets - $10 (NUMBER NOT IN THOUSANDS)
- Current liabilities - $54 thousand
- NO REVENUES EVER
- Quarterly net loss - $6 thousand
Unfortunately, as hard as that may be to believe, the fact that only a few months ago the company had just $10 to its name is not even the biggest threat to ENVV investors. Care to guess what is?
If your bet was the possibility of a share dump – congratulations, you guessed right! As it turns out, back when ENVV was going public, it sold 3 million shares for the grand total of $37 thousand. Fast forward to two years ago and we see ENVV perform a 10-for-1 forward split, which left the people who bought the aforementioned shares owning 30 million shares of ENVV common stock. As of now, it is unclear whether or not that stock has already been dumped on the market, or is still threatening to take the ticker down.
To summarize – hype may have pushed the ticker up, and in light of recent events may do so once more, but there are plenty of pitfalls investors need to watch out for when dealing with ENVV stock.
