This morning stock market action is mixed and in the world of precious metals gold is down $30. Shares of Aureus Inc. (OTCMKTS: ARSN) though are soaring up over 50% so far today. It is a small cap stock with a market cap of less than $3 million dollars so it does not actually take much money coming into the stock to make it go up. This action though is pushing it up to the top of the top gainers board on the US OTC exchange. Take a look at the chart.
Aureus, Inc. (OTCMKTS: ARSN) is a small company based in Reno, Nevada that operates Yuengling Ice Cream Corp. as a subsidiary. The economic recession and shutdowns have caused the revenue stream for the company to drop and raised concerns that it could carry on. But the company issued an update at the end of July that spurred confidence in the stock. In a press release CEO Everett Dickson stated:
“Bringing the financials current has enabled us to begin to complete the audits on some of the older periods. We begin posting these within the next few weeks, with an eye toward finishing by late Sept/early Oct. There have been several factors which have delayed us, we are excited to be clear of those and on track with this important step.”
“In addition to the CARES act, it appears we are eligible for some other Stimulus programs. We are looking into those. This would give us an opportunity to further restructure the institutional debt. Since the completion of this acquisition, last August, we have reduced the overall debt by nearly $500k. Our goal for the next 12 months is to aggressively continue this balance sheet strengthening.”
The stock has generated lots of interest in twitter today.
$ARSN imagine being a company like Yeungling and doing $500+ million in revenues! Then entrusting $ARSN with the name and expansion of your ice cream brand! This has no business being under .01! Available in Weis, WALMART and Redners! pic.twitter.com/rhDlGuje58— James Andrew (@BinDaddys) August 19, 2020
$ARSN That 29.4 vol on 10 minutes MASSIVE!!! somebody knows something—
IRON (@LowlifeTrader) August 19, 2020
Do you think $ARSN passes half of penny or higher tomorrow?— Michael DeSanti (@mikeymike9285) August 19, 2020
I do not own a position in ARSN and neither does Mike Swanson who is the founder and editor of this website. He sends out a free email update every morning with the stories he is watching before the opening bell and trading ideas. You can this for free by clicking here to subscribe.