iConsumer’s stock (“RWRDP”) closed at $.28/share on Friday, up 304% (it was $.092/share) from the week before. For the first time in a long time the stock market price is above the offering price.
In the past, as our stock price went up or down (mostly down) we adjusted the rebate percentage to reflect the new stock market price. We adjusted the percentage slowly, because our stock price is very volatile. It will probably remain volatile. We’re going to continue that slow adjustment philosophy for at least another week.
We’ve been adjusting the rebate percentage up as our stock market price went down and planned to adjust the percentage down as the stock market price went up. That helps to adjust for the fact that we’re required to calculate the shares back at $.25/share, by law, as outlined in our offering circular.
Self-fulfilling prophecy may be coming true
Investors and members are buying into The Plan. They’re buying our stock in the stock market, a little here, a little there, with the understanding that a rising stock price excites our members so that they may shop more, tell more friends, and we get more members. A 304% bump up in the price is exciting. More shopping (a fundamental change) can help our stock price go up and stay up. As the price holds (and maybe continues up), eventually we’ll adjust the rebate percentage to reflect that.
But not this week!
P.S. We’re not immediately changing the number of shares awarded for first time shoppers, new members, or trying the iConsumer Button.