BEAC has been bought by MDT Labor, How do u think this will effect the stock price?
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I guess if they sold their operating business to MDT and the remaining liabilities are more than the remaining assets, as they announced in September, there’s no reason for there to be stockholders and nothing for them to own. Which is probably why the penny stock is trading with a market cap of less than a million dollars. I don’t know if they actually went through bankruptcy or not, but the stock chart looks like they did.
If it goes the way of many defunct businesses, maybe it’ll get rolled up into a reverse merger and become a pump and dump candidate someday for somebody.
Or maybe there is some worthwhile asset that’s worth a million or two hiding inside the company, I don’t know — they announced a nonbinding deal to merge the remaining shell with another teensy weensy company this week, which seems to have inspired people to think that the company should have a market cap of $800,000 instead of $200,000 (that is, the stock went from half a cent to two cents). I don’t see how outside “investors” in this penny stock could have any idea what’s going on with them at all, and without some good information about the underlying business a trader in a micro-teensy-weensy penny stock like this is usually just riding the waves of attention and manipulation.