The penny stock of Obscene Jeans Corp. (OTC: OBJE.OB), now called Obscene Interactive, didn’t trade well after the company announced their gaming initiative. The price of OBJE stock got cheaper when it closed down -16.59% at $0.1418 in the last penny market trading session on volume 457 thousand shares. Cheap stocks like OBJE are a haven for day trade ideas to spawn.
Obscene Jeans stock price has appreciated 149.65% YTD. The switch from clothing to gaming could allow for those investing or trading penny stocks to scalp a few points here and there in the hype of Facebook’s launch and smartphone apps. Dueling Blades could be their ticket to glory if the game is all that the hype has it being.
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OBJE Stock Snap Shot:
Market Cap: 2.77M
52-Week High
(May 2, 2011): 3.00
52-Week Low
(Jan 5, 2012): 0.02
Avg Vol (3 month): 351,789
Avg Vol (10 day): 469,786
Shares Outstanding: 19.50M
Although no formal filing records the name change, OBJE has launched a new website, www.obsceneinteractive.com, which the company directs investors to in their most recent press release. Obscene Interactive thinks that educational social and mobile games denotes a massive untapped market just waiting to be %#@!ed. Wait, that was from Scarface. To be explored is what was meant to be there.
Even though educational games exist, none of them has enjoyed the crossover appeal of huge hits like Words With Friends or Draw Something. OBJE thinks they could soon help to change that.
OBJE announced prior to the market open that its current acquisition target, HourBlast Games, is wrapping up the latest round of beta testing on its revolutionary new social and mobile game, Dueling Blades.
Chosen from the developer’s Facebook test group, players battled one another, as well as computer-controlled opponents, to test the Unity game engine and dynamic combat system Dueling Blades is built around. Another round of testing is expected to be conducted soon in order for HourBlast to perfect its debut, Dueling Blades, before its Facebook release.
To view the SEC filings for OBJE, click here.
Bottom Line: Add OBJE to your list of penny stocks and look for them to do something worth making them worthy of adding to your stock watch list. They have been threatening for weeks to pick a partner for their move into the gaming sector but keep giving out useless facts about the sector.
OBJE had a sexy float as per their last 10-Q which was for the period ended November 30, 2011. Nothing has been filed via the SEC for months now and it would make sense to see something from there than a random $80 PR release from the usual suspects before considering even a day trade.
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