Axiom Corp. (OTCMKTS:AXMM) Wipes A Quarter Of Its Value
The disastrous performance of the stock of Axiom Corp. (OTCMKTS:AXMM) continued during yesterday’s trading. Not only that but the negative momentum got even stronger- the stock crashed by nearly 25% and closed at 25 cents per share. So far AXMM have registered six sessions of losses out of the last seven.
The stock is currently coming down after hitting a high of $0.47 on June 11. The reason in the first place that the stock was capable of even reaching such price ranges was a paid pump carried out by an entity called AXMMStockReport. A landing page touting the stock was created and according to its disclaimer OSLO Holdings LTD is providing a $200 budget for two months of PPC services.
This is not the first time AXMM has been targeted by a paid pump. Earlier this year InvestorEdge were paid once again by OSLO Holdings to hype up the stock. Back then the artificially created interest in the ticker managed to push it to a high of $1.87. Those who bought in at around this price though suffered a total nightmare when the stock crashed hard on the very next day. 5 sessions later and AXMM had dropped to around 30 cents per share.
It should be obvious that someone is quite determined to continue pumping AXMM. So, who could benefit the most from the increased awareness? How about the owners of the 26,4 million shares that were issued back in 2012 at $0.0015 each? Even if they still own a fraction of the original amount these people could still reap massive profits by unleashing such underpriced shares on the open market.
With lackluster financials of $137 thousand cash, working capital deficit of over $200 thousand and just $11,301 in revenues for the first quarter of 2015 AXMM cannot justify its current market cap of more than $16 million.
Playing pumped stocks is always risky and the fact that AXMM already suffered a devastating crash as a result of a pump just three months ago makes the stock even riskier. Do your own due diligence and never put unaffordable sums of money on the line.
