Bulova Technologies Group, Inc. (OTCMKTS:BTGI) skyrocketed over 50% today on news that its subsidiary has added significant volume to its portfolio after the completion of the merger with Gulf Transportation Group.
Bulova Technologies Group, Inc. (OTCMKTS:BTGI) announced today that its subsidiary, BT-Twiss Logistics (BT-Logistics), has significantly added to its portfolio of carriers by over 500 owner-operators as a result of its merger with Gulf Transportation Group on July 21, 2016.
An extremely important aspect of this addition is the elevation of BT-Logistics into the international carrier arena since the carrier now has access to over 500 owner-operators all having the necessary authority to operate across the US-Canadian border. The US terminal is located in Largo, Florida and the Canadian terminal is conveniently located in Brampton, Ontario.
A second very important aspect resulting from the merger is the addition of Mr. Joseph Drago, Director of Sales and Operations (Canadian Logistics). Mr. Drago has been involved with the transportation business for over 40 years and has owned and operated Gulf Transportation Group for more than 6 years.
Stephen L Gurba, President and Chief Executive Officer of BTGI, stated: “These BT-Twiss Logistics actions continue to support our progress on many fronts to further BT-Twiss Logistics as a highly regarded and successful business endeavor for BTGI. We will continue to seek out and improve in those business areas that will yield higher customer satisfaction and increased profitability. Sales from the merger are expected to add $2,000,000 (two million dollars) revenues annually.”
Short Interest at a Glance
Taking a look at the stock technicals, there are 5800 shares total short interest. The stock has average daily volume of 18350000. In looking at the total shares short in respect to the total outstanding share total of 89580000, yields a 0.00006% of total shares are are short. Compared to last month, this is a -42.00 change in total short interest.
When investors engage in short selling or “shorting a stock”, they actually borrow shares from an existing owner, sell the borrowed shares at market price, and take the cash. The short sellers then promise to replace the stock in the future and makes dividend payments out of their own pockets to cover the dividend income that is no longer exists on the original, now borrowed and sold, shares.
They hope that the stock price will fall or that the company will fail and go bankrupt, leading the equity holders to ruin. The short sellers will then buy the stock back at a much lower price and replace the borrowed shares, pocketing the difference.
Shorting a stock can be very risky if the price doesn’t decline like planned and, in fact, increases. It’s important for any investor to understand the dangers and potentially catastrophic financial losses of short selling.
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