DRP Journal

Discover Research Profit

Finance 

ProBility Media Corp (OTCMKTS:PBYA) Stock Takes a Hit At Higher Level: How to Trade Now?

Pete Matthews , , , ,

ProBility Media Corp (OTCMKTS:PBYA) jumped 9% after announcing its financial results for fiscal years ending 2020 and 202 as per the SEC Rule 15c-211 and OTC markets requirements. The company has changed the end of its fiscal year to May.

At the start of 2019, the company underwent restructuring to do away with excess corporate overhead and non-performing units. In addition, relative to the company’s last public filing in 2018, the company retired more than $8.1 million in debt, thus reducing debt by almost 56%. 

The company reported an operating profit of $321,549 for the fiscal year ended May 31, 2020, relative to a loss of $12.9 million in 2018. The company reduced the run rate of more than 12 million in operating losses annually into operating profit. Revenue for the year ended May 31, 2021, was $6.383 million, a 16.5% drop from $7.643 million in 2020. Adjusted EBITDA was $119,807 relative to 579,320 a year ago.  So in the coming months, PBYA is a stock to watch.

Market Reaction:

On Wednesday, PBYA stock gained 8.40% at $0.0057 with more than 730.52 million shares, compared to its average volume of 145.14 million shares. The stock has moved within a range of $0.0056 – 0.0085 after opening the trade at $0.0075. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0102.

About DRP Journal

DRP Journal covers penny stocks, breakouts, momentum plays, catalyst plays, bounce plays and more. Don’t miss another big move. Sign up for our FREE text alerts by texting STOCKS to 239 307 2100.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.