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Q: Reasearch on an OTC stock ( Answered 5 out of 5 stars,   0 Comments )
Subject: Reasearch on an OTC stock
Category: Business and Money > Finance
Asked by: gsautos-ga
List Price: $15.00
Posted: 11 Nov 2002 11:07 PST
Expires: 11 Dec 2002 11:07 PST
Question ID: 105386
Please do some research on an OTC stock called Buck a Day Company
(BKDYF. Other than the initial filings, I can't seem to find any other
information about the company. Their website doesn't help much either

Request for Question Clarification by haversian-ga on 11 Nov 2002 13:20 PST
What information are you looking for?

Their ticker symbol has changed to BKDYF.OB.  The stock price has
ranged from just over a dollar to 8 cents over the past year and they
are currently trading at 7 cents.  Source: Yahoo finance -

The company is a "TV direct response seller" of IBM PCs and Samsung
TVs and home theaters, according to Yahoo's business page.  (See
Google cache at
)  The company's SEC filing was declared effective and on sep. 4 2002
its stock was approved for listing on the Nasdaq exchange.  The
purpose of selling stock was to raise capital for an expansion from
Canada into the US market.

Please let me know if this is the sort of information you are looking
for.  If so, I will flesh it out and post it as an answer.

Thank you


Clarification of Question by gsautos-ga on 12 Nov 2002 01:32 PST
I already know all this stuff. By the way, the ticker symbol is still
BKDYF, Yahoo just adds an OB since it is an OTC stock.

I am basically looking for reasons as to why the stock has been
crashing since the IPO. Maybe there are some press releases or stories
in the media about the company that would explain the steep decline.
Subject: Re: Reasearch on an OTC stock
Answered By: hailstorm-ga on 12 Nov 2002 05:15 PST
Rated:5 out of 5 stars

I found an article on Canadian Business website dated October 28th of
this year that may shed some light on the situation:

Here is an excerpt from the article:

"To help fund its expansion, the company went public on the Nasdaq
Over-the-Counter Bulletin Board at US$1 a share in September.
Actually, Buck A Day didn’t raise any money through the listing—it
simply registered the 22.5 million common shares it already had
outstanding, along with more than four million common shares attached
to various unexercised warrants. But Buck A Day is now in the process
of raising (it hopes) between US$8 million and US$10 million in a
share offering that’s available only to non-US residents."

The original stock offering raised no money for this company, it only
registered the stock available for sale.  Without official news this
is only speculation, but some people may not have been aware of this
before they bought stock, and then got in a hurry to unload it.
Meanwhile, they are now planning to raise money with a secondary stock
offering. Doing this dilutes the value of currently offered stocks,
making them even less desirable. Their business model leaves much to
be desired as well...the article also states they've been losing money
ever since their inception in January 2000. And of course, a new
company needs to draw as much attention to itself as possible. The
fact that they have had no official release since the launch of their
stock reminds me of what my grandma used to say:  if you have nothing
nice to say, don't say anything at all. No news at all is enough to
cause unease among investors, and can drop a new stock price very

In general, assessing the initial price of a stock is very difficult,
especially for over-the-counter stocks.  The reason the price started
at a dollar a share was simply because the company said it should. 
The market is now determining its real value, and while seven cents a
share might seem to be an incredible deal compared to the dollar a
share it was less two months ago, without a press release or some sort
of official information from this company, it will be very difficult
to determine what this company should be worth. And in a bear economy,
when left with no information to form an opinion, people are bound to
assume the worst.

Sites cited:

Canadian Business

Buck-A-Day Website 

Buck-A-Day Stock Chart

Google search terms used:
"buck-a-day" stock 2002
gsautos-ga rated this answer:5 out of 5 stars
I don't know how you found this. I looked for such articles myself...

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