Although it is true that the Bmcs Sumcoin Index Fund (OTCMKTS:BMCS) stock corrected on Tuesday and declined by as much as 4%, it should be noted that the stock has performed strongly in the past week. Despite the losses yesterday, it is still up by as much as 15% in the past week.
Trading Data
On Tuesday, BMCS stock slid 3.70% to $0.0625 with more than 249k shares, compared to its average volume of 126K shares. The stock has moved within a range of $0.0520 – 0.0739 after opening trade at $0.06.
BMCS Continues to Add Digital Assets to its Balance Sheet
Yesterday, the company was in the news after it provided a key update with regards to its business and noted that it had continued to stick to its business plan by adding more digital assets. The company noted that the continued addition of digital assets was a move to strengthen the balance sheet.
Up until yesterday, the balance sheet of BMCS SUMCOIN INDEX FUND contains as much as $75 million in the form of assets. Anthony K Miller, who is the Chief Executive Officer of the company, also spoke about BMCS SUMCOIN INDEX FUND’s operations. He said that the fund has a Delaware Depository Trust and that is used for holding Sumcoin for the company’s shareholders.
Although the stock declined yesterday, the announcement from the BMCS SUMCOIN INDEX FUND was an important one. It may be a good time for investors to start tracking the stock.
Key Quote
According to Anthony K. Miller, CEO, “BMCS Sumcoin Index Fund Inc., formerly BioTech Medics, Inc., has a Delaware Statutory Trust that holds Sumcoin (SUM) on behalf of its shareholders. The investment objective of the Trust company is for the shares to reflect the value of the Sumcoins held by the Trust, determined by the Sumcoin Index value, less the Trust’s expenses and other liabilities, divided by the I/O stock (the NAV total, as of today, is $.38 and our balance sheet now totals $75.9 million dollars of Sumcoin). Our current share value does not reflect this capital structure (the predicted P/E ratio)… and it is our hope that in the coming weeks our true value is realized.
Technical Data
BMCS stock is trading above the 20-Day and 50-Day Moving averages of $0.0439 and $0.0447 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0549. The stock is up 56% in the past month.
