GraphOn (OTC: GOJO) was on a roll this week. It gained 15% and released a new remote application yesterday. After making some gains on the stock charts, GraphOn suffered its biggest decline since mid-June 2012.
Yesterday, GraphOn, a company that focuses on application access from anywhere in the world, released GO-Global 4.5 for Windows. The remote application delivers Windows applications to any operating system on any platform anywhere in the world. The application runs on a central Windows server. GO-Global clients operate on Windows, Linux, UNIX, Apple OS X and iOS, Android, and any web browser. The Windows applications retain 100% of their features and branding.
On July 26, 2012, GraphOn announced that a new face had been added to its board of directors. Sam Auriemma is a financial executive with more than 30 years of experience in technology companies.
Just a day earlier, on July 25, 2012, GraphOn announced that Yahoo! JAPAN would be using the company’s GO-Global software to deliver online business applications to small businesses throughout Japan. Yahoo! JAPAN developed a business continuity plan that would provide businesses with application, storage and backup services.
Based in Campbell, California, GraphOn has many big-name customers, including AT&T (NYSE: T), Compuware (NASDAQ: CPWR), Ericsson (NASDAQ: ERIC) and Mitsubishi (OTC: MMTOF). GraphOn allows individuals and businesses to create secure and private clouds for their company’s documents and applications.
After closing at $0.159 last night, GraphOn’s stock opened at $0.121 this morning. After peaking at $0.155, the stock settled at $0.145 at close. This led to a $0.014, or 8.8%, drop from yesterday. The company’s stock had been on an upward climb this week, shooting up a couple pennies in the past few days. Before then, the stock was staying fairly level in the $0.15 range. In the past 52 weeks, the stock was as high as $0.2810, a number that was attained on September 9, 2011.
Volume was up today, however. GraphOn’s daily average volume is 38,265 shares. Today’s volume was just shy of 2.9 million shares, reaching a 52-week high. The previous 52-week was on September 2, 2011, when more than 1.4 million shares were traded. In comparison, yesterday’s volume was just under 443,000 shares.
Penny stock newsletters have not promoted GraphOn since September 2011. The reason for the stock’s decline after releasing such a huge product is unknown. Could the future hold big gains for GraphOn, or will its stock continue dropping?