Sunpeaks Ventures (OTC: SNPK) dropped a penny at the closing bell today after consistently rising in July so far. The company’s stock price closed at $0.08 yesterday and opened today’s trading session at $0.83. The stock rose to $0.88 and dropped to $0.0635 before settling at $0.07. The company reached its 52-week high on April 17, 2012, when the stock price quickly rose to $2.23. The share price was on a roller coaster ride until the end of April, and has continually dropped since then. The stock had seen a ray of hope earlier this month with some small gains.
Sunpeaks Ventures’ trading volume was also down significantly today, at 5.3 million shares, compared to the daily average of just below 17.4 million shares. The company saw a record-high volume of nearly 160 million shares on March 8, 2012. The next day saw 98.7 million shares traded. Volume has consistently stayed in the millions, but nothing has come close to those two huge days.
Sunpeaks Ventures is based in Silver Spring, Maryland. Along with its wholly-owned subsidiary, Healthcare Distribution Specialists (HDS), the company distributes over-the-counter multivitamins and specialty drugs to healthcare providers. HDS functions as a supply source for hospitals and provides them with products that are hard to find due to manufacturer shortages. There were more than 200 drug shortages in 2011, and this number is expected to increase with many drugs becoming generic. HDS is currently licensed in 26 states plus Washington D.C., with plans to be licensed in all 50 states.
The company has not been in the news recently. It last sent out press releases in late April 2012, announcing advertising agreements for Clotamin, a multivitamin specially designed for those who take blood thinners. The multivitamin does not include Vitamin K, a blood clotter that can cause serious health problems to those who take blood thinners. The new marketing campaign has plans to launch Clotamin in 90 stores. Sunpeaks Ventures also signed a deal with the Dayton Dragons professional baseball team. The multivitamin will be promoted on signage and the team’s promotional materials. The company also signed a deal with CBS Radio to provide on-air radio advertisements promoting Clotamin.
The company’s stock was heavily promoted throughout April 2012 and was even touted as a “gift from heaven.” Many penny stock newsletters have also had this stock on its radar throughout June and even as recently as Monday after closing at $0.0801. Is the company on a downward trend, or is another rally in Sunpeaks Ventures’ near future? Tomorrow’s trading session will tell.
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