Dig-It Underground, Inc. (PINK:DIGX): Promotional Act So Far Successful
If you still wonder why Dig-It Underground, Inc. (PINK:DIGX) ended up being one of the best performing penny stocks on the market yesterday, you had better take a look at our newsletters section. Indeed, DIGX got a real boost as the stock closed trading at a four-week high of $0.035 per share, up 40% in comparison with its previous close. What is more, market players brought about a real trading frenzy as more than 2.8 million shares of common DIGX stock changed hands by the time the session came to an end, easily setting a six-month record. Although the company issued a couple of official PRs yesterday, the huge wave of promotional emails in support of DIGX stock started flooding traders' mailboxes on Apr. 30 shortly after the end of the working day. By the time the market resumed trade, the promoter had already sent three more emails. As a result, DIGX shot up by a staggering 40%. As read in the promoting party's official disclaimer, the total budget of the promotion, which is expected to raise awareness about DIGX throughout the present week, amounts to $40 thousand. The latest couple of advertising alerts arrived at our database last night. When DIGX recently submitted a comprehensive annual report for the 2011 fiscal year, the company disclosed: $437K in current assets vs. $183K in current liabilities; $550K in revenue, up 76% on an annual basis; net income of $26K as opposed to $89K a/o Dec. 31, 2010. Even though DIGX appears to be over-promoted already, its financial records indicate that the company is actually in the black as far as its net results are concerned, which could potentially yield good opportunities to DIGX's stockholders.