JB&ZJMY HLDG CO IN COM USD0.001 (OTCMKTS:JBZY) was slapped with a 25% loss in price in trading today. JBZY is struggling with its new ticker. A name change can often times galvanize a stock, especially one that makes a stock more clear in a narrative sense. However, that has not been the case for JZBY in early going.
At the moment, JBZY plans to launch two type of cars to the market; the electrical car with max range of 330 km and an electrical SUV model with max range of 500 km. This move was looking to boost investor confidence and focus the business strategy. It has not played well so far.
JB&ZJMY HLDG CO IN COM USD0.001 (OTCMKTS:JBZY) or Ji Ming Yang focuses on the development of batteries for New Energy Vehicles. The company possesses a number of patents seeking to enhance and extend battery life while also reducing operating costs. The Company seeks to commercialize solutions to the problems faced by all vehicle battery manufactures, such as shortage of battery life, expensive materials, and charging station issues.
According to company materials, “The company possesses a number of patents seeking to enhance and extend battery life while also reduce operating costs. The Company seeks to commercialize solutions to the problems faced by all vehicle battery manufactures, such as shortage of battery life, expensive materials, and charging station issues.
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Control of the Company was acquired by Mr. Wang DeQun on January 11, 2017, throughan agreement that was entered into in December 2016. On that date, Mr. Wang acquired 300,000 shares of the Company’s Class C Preferred Stock which is convertible into 750,000,000 shares of the Company’s common stock and carries an equal number of votes. Originally, this acquisition news sent the stock flying but the stock has since fallen on rough times and investors who are believers in the space may see an opportunity to buy the dip.
Just to review, Here is a quote from the release: On January 11, 2017, the filing date of the Company’s Amendment to its Certificate of Incorporation authorizing the preferred stock, the Company’s Board of Directors also authorized the acquisition all of the issued and outstanding shares of Ji Ming Yang Amperex Technology Limited (Ji Ming Yang), a Chinese corporation in exchange for one hundred thousand Class D Preferred Stock convertible into 100,000,000 shares of the Company’s common stock which also carries an equal number of votes. The name change which was subject to a lengthy FINRA review l process allows the Company to reflect the new business combination by changing its name to JB&ZJMY Holding Company, Inc. and seeking a new symbol. This acquisition was closed on April 4, 2017, with the delivery of the Class D Preferred Stock to Mr. Wang DeQun.
JB&ZJMY HLDG CO IN COM USD0.001 (OTCMKTS:JBZY) has a market cap of $74.14M and 797.19M shares out. The company has been trading in a slight slump for the last few days giving away about more than 20% in price, but this stock is in a very interesting sector and should not be counted out yet. For continuing coverage on shares of $JBZY stock, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $JBZY, either long or short, and we have not been compensated for this article.