OBLG Dead Cat Bounce?
Hello,
What is OBLG?
Oblong, Inc. develops teleconferencing systems. The firm's product Mezzanine is the technology platform that defines the next era of computing: simultaneous multi-user, multi-screen, multi-device, multi-location for dynamic and immersive visual collaboration. The Mezzanine brings data sets, workspaces, and communication channels to life across multiple screens in multiple locations. The Mezzanine allows interaction from a number and type of input devices simultaneously, including touch screens, phones, and tablets. The company was founded in May 2000 and is headquartered in Los Angeles, CA.
News
This company has had two reverse stock splits Apr 18, 2019, 1:10 Stock Jan 14, 2011, 1:4 Stock Split.
My Thoughts
A reverse stock split is a type of corporate action that consolidates the number of existing shares of stock into fewer, proportionally more valuable, shares. The process involves a company reducing the total number of its outstanding shares in the open market, and often signals a company in distress. The question remains will this company bounce or plummet into the abyss? The chart is telling us there is a chance for a move up but that depends on fundamentals. If you are thinking about taking a trade, I would advise caution with this particular stock.
Good Luck, Cheers!
Be sure to comment, follow, like, and check out my profile for more trade ideas!
What is OBLG?
Oblong, Inc. develops teleconferencing systems. The firm's product Mezzanine is the technology platform that defines the next era of computing: simultaneous multi-user, multi-screen, multi-device, multi-location for dynamic and immersive visual collaboration. The Mezzanine brings data sets, workspaces, and communication channels to life across multiple screens in multiple locations. The Mezzanine allows interaction from a number and type of input devices simultaneously, including touch screens, phones, and tablets. The company was founded in May 2000 and is headquartered in Los Angeles, CA.
News
This company has had two reverse stock splits Apr 18, 2019, 1:10 Stock Jan 14, 2011, 1:4 Stock Split.
My Thoughts
A reverse stock split is a type of corporate action that consolidates the number of existing shares of stock into fewer, proportionally more valuable, shares. The process involves a company reducing the total number of its outstanding shares in the open market, and often signals a company in distress. The question remains will this company bounce or plummet into the abyss? The chart is telling us there is a chance for a move up but that depends on fundamentals. If you are thinking about taking a trade, I would advise caution with this particular stock.
Good Luck, Cheers!
Be sure to comment, follow, like, and check out my profile for more trade ideas!
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