Max Sound Corp (OTC: MAXD) stock ended trading at $0.0109 on Wednesday, down by -19.26 percent. It has been trading in a day range of $0.0093 to $0.0159.
With an average trading volume of over 272.05M shares, MAXD has soared more than 1262.50% over the past month. Looking at stock’s performance over a 3-month period, MAXD has gained over 10800.00%, however, the average daily trading volume for the stock stands at 204.76M. A 10500% gain in stock price has occurred over the last 12 months, with a high of $0.0196, bringing the current market cap to $71.746M. The number of outstanding shares for the pink sheets company is 6.587 billion compared to a float of 20.05 million.
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How the company operates:
- Based on its patent-pending MAX-D HD Audio Technology for sound recording and playback, Max Sound Corporation sells and licenses products and services.
- The firm offers MAX-D technology that improves several audio formats, as well as compressed audio and video as found in mp3, iPod, Internet, and satellite/terrestrial broadcasting files.
- Its products are used in applications for consumer electronics, motion pictures, broadcasting, video games, recording, mobile phones, the Internet, and VOIP.
- The business was formerly known as So Act Network, Inc. and changed its name in March 2011 to Max Sound Corporation.
- Established in 2005, Max Sound Company is headquartered in San Diego, California.
What is happening?
There has been heavy accumulation of the stock in recent months. That resulted in significant volume pick up from early December onwards. Coinciding with that was the rise of penny stock speculation driven by Robinhood, which is now the largest stockbroker in the United States with more than 100 million accounts. But the stock now seems to be shunning the gained value as it has been continued the fall in today’s early trades too. The stock was buoying at $0.0068 dropping -37.71% as of 10.15 a.m. EST.