In yesterday’s trading session, IFXY stock price opened the market with a large jump up and extraordinary demand from traders. At the end of the day, the shares recorded a total value increase of 40.62% and a share volume reaching almost 71.19 million shares. IFXY hit a number of resistances going up to $0.012 and then closed at $0.009 for a share.
Today’s trading session promises to be hot as well, as yesterday afternoon another revenues- and shareholder value-related PR was added to the one from Wednesday. After announcing the acquisition of an engineering and design firm for a total price of $8 million, to be paid with a combination of cash and preferred stock, Infrax will now launch a proprietary Secure Network Interface Card at a technology conference at the beginning of next month.
Even more interesting for traders is though that yesterday a one-day promo campaign for IFXY stock was also launched, maybe to secure the interest of the public market in advance. An amount of $13,250 was paid for the service and the stock was featured in the newsletters of at least five promoters.
Infrax stock price seems to already reflect the expected future growth in the sales, and the shares look overvalued also in regard of the company’s tangible assets. At the end of September 2010 Infrax had total assets of $6.92 million and $6.59 million of that amount represents the price paid for the acquisition of the assets of Trimax Wireless Systems, Inc. in June last year. The valuation of the acquired intangible assets is based on their expected future cash flows.