Penny Stock Alert: In a matter of hours, the specialty hybrid sporting goods bag manufacturing company has jumped several positions from of $0.07 this morning to 0.10.
About Zippy Bags
Information on its website states the company, "... manufactures hybrid bike and snowboard protective enclosures. We feature innovative mulch-functional products with breakthrough designs. Originally conceived in the heart of high altitude bicycling and snowboarding in the Utah Rocky Mountains, our venture began during the explosive growth of both of these industries in the early 1990’s..."
Why the movement?
According to a recent press release, the company today announced the record date for the previously announced 2 for 1 stock dividend. This announcement was made on Jan. 16. The move was to reward shareholders, new and old. That record day is today, thus coinciding with the recent jump in their stock price. Whether or not there is a connection to the two is up for interpretation. The company's stock price, before the jump averaged $0.05.
Earlier this year, Zippy Bags, Inc. announced two new products, the Zippy Bike Bag,which completely covers a road or mountain bike while being transported on a rooftop bike racking system and the Zippy Wheel Bag, which can be used with any bicycle wheel up to 29".