Today the DOW and Nasdaq gapped up in morning trading ahead of the start of second quarter earnings season. Netflix (NASDAQ: NFLX) shares are up almost 3.5% this morning to get the attention of traders as people are buying it ahead of its earnings release scheduled for Thursday, but even bigger price action is moving shares of Beyond Commerce (OTCMKTS: BYOC), which are up 70% so far today. Take a look at the chart.
This stock is also up over 300% so far this month. Rising markets simply cause traders to look for bargains and this stock came on the radar of some after it reported earnings in May. It revealed in that earnings press release that in the first quarter it cut its net loss to $400,000 and had assets of $8.7 million. Meanwhile the company as of today has a market cap of $5.2 million giving it a nice price discount to its net asset value.
Those types of figures are fueling some buying interest into the stock. So is news last week that Mr. Henley Gurley joined its board of directors. Geordan Pursglove, Beyond Commerce’s Chief Executive Officer, commented on this news, “We are extremely pleased to welcome Henry to our Board of Directors. The Board believes that Mr. Gurley’s extensive experience in the capital markets and finance industry makes him well-qualified to help lead the Company towards pursing its strategies for growth.”
On Twitter traders are all excited over the stock.
$BYOC From CEO LAST NIGHT.— Mike (@crabbermike) July 10, 2020
Thanks for reaching out. Believe it or not but a lot of our Clients will Not Allow us to release PR's about new programs or contracts because we R on the OTC This is something that Will Change when we achieve our goal of being on a national exchange.
$BYOC IHub bans me for calling Honolulu trader aka stevieb a clown, but lets others call this stock a piece of shit, bashing it consistently and they're ok with that!! Id like to bash something but it isn't a stock, Im sure some of you know what I mean!— Tommy (@scotchnguitars) July 12, 2020
I want all of us to win in $BYOC.— Scott Crawford (@traegerscott) July 12, 2020
$BYOC "There's a lot of things in the works and when we can post we will. We've had our heads down working on cleaning up the balance sheet, growing revenue, working on raising cleaner money etc."— Mike (@crabbermike) July 10, 2020
$BYOC I was just thinking, you do know that the new director specializes in financing…….acquisitions in the works🤔now that makes sense. I really think thats going to happen sooner than most think!…. long time holder!— BigDog (@psmckenna) July 10, 2020
I do not have a position in this stock and am not going to buy it, although it is fun to see people excited about it. I’m personally more excited about my own top stock pick for this summer that I do own. To find out about it go here.