Not too long ago, the education company ProBility Media Corp (OTCMKTS:PBYA) had seen its stock record strong gains after it came into considerable focus among investors. However, the situation has changed somewhat and on Tuesday, the stock recorded losses of as much as 23%.
In this situation, it might be a good move for investors to take a closer look at ProBility and figure out if it might present an opportunity to get into the stock. Yesterday, the company provided an update to its shareholders with regards to its current state and some of the highlights are interesting.
In its address to the company’s shareholders, the company pointed out the work it has accomplished in different phases. One of the phases was between January 2016 and January 2018, the other was between 2019 and 2020 and the last one was from that start of 2021 to the present day.
ProBility notified that from the beginning of 2021, it has been able to operate at the levels that it had been operating prior to the coronavirus pandemic. It has been able to achieve that through the work done by its subsidiary companies. In addition to that, ProBility also stated that it is working towards reducing its expenses by not only consolidation its labour costs but also by chipping away at its debts.
Market Reaction:
On Tuesday, PBYA stock moved down 23.33% to $0.0023 with more than 150.61 million shares, compared to its average volume of 90.87 million shares. The stock has moved within a range of $ 0.0022 – 0.0033 after opening the trade at $0.0031. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0033.
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