Raystream Inc. (OTCMKTS:RAYS) Completes Shakeup at the Top and Surges In Market Valuation
Northern, WI 06/11/2013 (GDPInsider) – Raystream Inc. (OTCMKTS:RAYS) had a good showing in trading today after starting the day at 0.0035, 0.0002 cents below its previous close of 0.0037. The slow start was more than compensated for and investors showed their bullishness towards RAYS, allowing it to close on a high of 16.22%.
Volume was very impressive and RAYS finished the day on traded volume of 55,712,425, a massive 474.69% increase on average volume of 9,694,287.
The company, which is engaged in the video transmission and compression business, licenses software to compress high definition (HD) video transmissions to other businesses. RAYS offers custom-designed HD video compression solutions designed for video-on-demand, for live streaming, and for full high-definition (HD) three dimensional (3D) videos, allowing users to view the compressed video on 3D video-enabled devices.
There was a massive shakeup at the top recently and RAYS announced this fact via a formal filing of a FORM 8-K to the SEC. In it RAYS outlined the fact that CEO, President and Director Brian Petersen, had appointed two new officers on May 24, 2013. Petersen subsequently resigned his position after the appointments, paving the way for Delmar Janovec to take over as CEO, and President. Brent Crouch was appointed as the Chief Financial Officer, Treasurer, and a Director of the company.
The shakeup didn’t have too much of an adverse impact on market valuation and RAYS posted a breakout performance on June 06, 2013 when it climbed +1,166.67%. The breakout means that since June 07, 2013, RAYS has increased 4,200.00% on its 52-week low of 0.0001.
Despite the explosive trading volumes and increase market valuation, RAYS continues to trade with a RSI of 63.12. Investors therefore have a little wiggle room before the stock passes the overbought RSI level of 70.
At current market valuation RAYS is trading way above its SMA50 of 0.0010 and its technical chart shows a steep northward climb consistent with its recent breakout performance in trading. RAYS has 49.98 million shares outstanding and institutions own 36% of the stock in the company. EPS is presently -0.07 and the stock has a 52-week range of 0.00 and 0.15.
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