Tix Corp. was one of the two stocks in its industry with a positive performance and recorded a new peak for this year, closing at $1.80 yesterday, on ra ecord volume burst out. This year’s highest value resulted from a 28.57% jump and the trading volume almost touched the 2.7 million shares level, due to a large extend by short sellers not believing in the start of a continuous uptrend.
The volatility improved after the company announced the appointment of a new CFO and filed last year’s financial results. After the persistent and clear downtrend from the beginning of the year, the first break out attempt was at the beginning of this month, when an 18.55% increase broke the $1.40 barrier that has been the resistance level over the last two months.
The growing volatility then seems to have gradually accumulated demand and Tix Corp. has began entering the overbought area. Though, the slow moving average of $2.33 is still far above, a beginning uptrend is probably to be noticed. The market’s interest started rising up on the modest increase of the revenues and the improved efficiency, leading to positive operating earnings last year. For investors that has been a sufficient reason to see potential for Tix Corp. to gain back some of the previous values above $1.60 from the beginning of the year.
Following a couple of years of growing losses, the company seems to be making progress in the entertainment business. Tix Corp. was incorporated in 1993 and after previously engaging in other unrelated activities, since 2004 has been operated as a diversified integrated entertainment company providing ticketing services, event merchandising and the production and promotion of live entertainment.
The filed issuance of a convertible note for $1,000,000 in connection with the All Access Entertainment, LLC acquisition at the beginning of March, has enhanced the downtrend of the stock, as the market must have perceived some dilution risks on the one side, and on the other hand has not given high valuation of the acquisition target.
Originally posted here:
Filed Under: Press Releases
About the Author: