Wal-Mart Related News Fails to Give NuVim (R), Inc. (PINK:NUVM) A Boost on the Stock Market
Whenever a pink sheet includes the name of a giant enterprise in a press release it usually gets a boost on the stock market. Not NuVim (R), Inc. (PINK:NUVM) , though. Last Friday, NUVM revealed it had reached an agreement with Wal-Mart with regard to a rollback promotion of the company's flagship product throughout all Florida-based Wal-Mart super-centers. The move is NUVM's second step toward building a long-term collaboration with the giant multinational corporation, following a previous distribution agreement. Indeed, the above mentioned press release managed to awaken investors' interest in NUVM stock as more than 2.2 million shares changed hands, marking a significant improvement over the previous session last Thursday. Yet, it was accompanied by a steady price decline. By the end of the session, NUVM stock had already gone down 21.5%, closing at $0.0251 per share. Occupying the groceries and related products industry, NUVM specializes in distributing dietary supplement beverages aimed at strengthening the immune system and improving muscle flexibility. The company's flagship product, which is also the subject of the new rollback promotion at Wal-Mart, is the so called NuVim (R). The latter is described as a "one of a kind beverage" that, after being in the works for more than 30 years, is now able to both ensure a sound immune system and enhance vitamin and mineral absorption. Having adopted an alternative reporting standard, NUVM has done its best to stay relevant, hence its Current Information status on the OTC Pink marketplace. According to its report covering Q1 of 2011, the company has: zero cash; negative working capital of $0.79 million vs. $0.76 million incurred in the previous quarter; net loss of $104K as compared to $43K for Q4 of 2010. Based on the figures mentioned above, NUVM's endeavour to boost the sales is nothing short of justified. While there is no guarantee that the rollback promotion will bear any fruit, anything is possible. In addition, unlike many other pink sheets, NUVM has a couple of final products on the market.
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