Life Design Station (OTC: LDSI), creator of music-based Internet platform Backstage Vibe, dropped 15% today after enjoying a steady rise to the top since July 5, 2012. After closing at $0.059 on Friday night and opening at $0.064 this morning, the company’s stock was up to $0.077 and down as low as $0.0421 before settling at $0.05, a $0.009 drop from Friday. The highest price in the past 52 weeks was reached nearly a year ago, when the price was at $0.1450 for almost a month before dropping down to just above $0.03 a share. On May 1, 2012, the stock price rallied back to $0.11 a share and remained at that price until June 20, 2012, when the price dipped to $0.06. It then rose back up to $0.07 and dropped again to $0.05 on July 5, 2012. The stock was posting steady increases until dropping again today.
Volume was a different story. Volume spiked to a company high of just under 15.7 million shares. This is a phenomenal number considering that just over 617,000 shares were traded Friday and the company’s daily average is a little under 110,000 shares. Except for the 76,000 shares traded on June 20, 2012, the company registered no trading activity until July 5, 2012, when 78,100 shares were traded.
Life Design Station is a music-inspired company that uses Internet technology and social media to promote the services of singers and songwriters. It allows musical artists from all over the world to collaborate with others in order to promote and sell their services.
Life Design Station’s website is still in its production stages, but plans to include the following features:
- Collaboration online in real time
- The ability for singers, songwriters, producers and promoters to all share the same platform
- Online stores for members to sell items
- Backstage access for fans
- The ability for artists to solicit feedback from fans
Life Design Station announced today that it will be using resources to expand its online presence, which could explain its stock’s decline today. Additional resources are being used due to high amount of positive response regarding the company’s new platform, Backstage Vibe. The website is currently in production and the company has not generated any revenues to date. However, that could all change once the website launches on August 15, 2012. While this platform may help undiscovered artists climb up to the top of the music charts, time will tell if positive feedback will help it will climb to the top of the stock charts.