Share prices for the Invicta Group Inc. (OTCBB: IVGR) took a tumble today, dropping 29 percent after market open from $0.012 cents a share to $0.008 cents a share.While drops like these aren’t unusual on the Bulletin Board, it is unusual considering the huge jump the stock took yesterday afternoon when it soared more than 600 percent after the company announced it had added Apple’s i-Tunes to its music and entertainment site, www.invictamusic.com.
Although the drop is unprecedented, neither investors nor the company’s CEO, Bill Forhan, seem too concerned about it.
“We’ve just announced a new product … the reception’s been positive,” Forhan told MN1 in a brief interview this morning. “Today people are just taking their profits. That’s just the way it works, I guess.”
It’s understandable why Forhan’s not quite as concerned as others might be. Some message board users are attributing the dropping price to stock dilution, rather than a lack of investor interest. No matter what the reason, a 39 percent drop is still small news when compared to the 600+ percent increase from the day before. Prior to the announcement, the company’s stock had been trading around $0.0014 – while the stock is still currently under a penny, it’s nonetheless seen a vast improvement in value that any CEO would be happy with.
Still, Forhan’s not done with sprucing up the Invicta Music site, claiming that the company will add “more excitement” to it next week. Although he didn’t specify what this “excitement” would be, if it prompts another sudden climb like yesterday afternoon’s, it’ll certainly catch investor interest.
