Shares in the penny stock of Takedown Entertainment Inc. (OTCBB: TKDN) are getting taken down today plunging -28.26% to $0.0165 in intraday trading. TKDN announced earlier today that the company’s subsidiary, Fight Rights Licensing Inc., had signed a License and Distribution Agreement with an MMA fight promotion based in Edmonton, Alberta, Canada, Aggression Entertainment Ltd.
Some penny stock newsletters were circulating TKDN as their stock picks earlier today and yesterday. “Ouch!” Shares in Takedown Entertainment has 82.82M Shares Outstanding and a Float of 52.82M. TKDN has dropped -74.44% thus far in 2012. Volume today thus far is 20.5 million compared to the ytd average of 468,427.
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Aggression Entertainment, the parent company of the Aggression Fighting Championship, is a major Canadian-based MMA fight promotion.
The agreement with Takedown Entertainment includes the global distribution rights to over 40 hours of MMA fights featuring the top-ranked Canadian MMA fighters as well as the right to film and distribute globally up to 12 live MMA fight events per year.
TKDN has a 52 Week High (9/20/2011) of 1.35 and is headed towards its 52 Week Low (4/2/2012), 0.013.
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