Big Promotions For Primco Management Inc (OTC:PMCM) Prove Not Up To Par
A full-blown promotion, a lot of burnt investor pockets, a complete change of business. These are jsut a few of the numerous things Primco Management Inc (OTC:PMCM) has been associated with for the last couple of days.
What was once a shell-like real estate management holding has just morphed into something completely different through an acquisition of what has been branded “a fully integrated entertainment company”. Needless to say, a myriad of promoters did their best to capitalize on the situation yesterday. However, there are a few things you need to know about the stock.
First, PMCM shares had not been traded for quite a long time until Feb. 6. Why? You had better ask the market makers who continually kept their bid/ask offers at $8.50 per share. This situation took a completely different turn on Feb.6 as the stock suddenly became much more affordable opening at $0.25 per share and closing at $0.15 without ever managing to go beyond its opening value. Ironically enough, the PMCM‘s acquisition news by Eat Sleep Media Group, Inc. (ESMG) came up on the same day, which inevitably influenced the trade with PMCM shares.
As it turned out, this piece of news acted as a catalyst for a full-blown promotion aimed at ramping up the value of PMCM shares yesterday. According to the entries in our database, the total budget of the campaign exceeded $360 thousand with one of the promoters, i.e StockMister, launching a sub-campaign on the stock by paying yet another promoters with a portion of the $105 thousand StockMister got paid in the first place. Anyway, PMCM opened at $0.1949, peaked at $0.23 (creating a maximal profit opportunity of 18%) and closed trade at $0.185, up 23% from its previous close.
While the vast majority of the promotional emails we got referred to yesterday’s session only, those sent out by StockMister are set to cover the new session, as well. However, they hardly stand any chance of further success because of the poor state PMCM is in at the moment.
Prior to the ESMG acquisition, PMCM used to be a real estate management holding generating minuscule revenues and having few assets at hand. That is why, when David Michery, the new President and CEO of the company, excitedly explained how the transaction would turn the new entity into a multi-milion corporation listed on the Nasdaq, we were genuinely surprised by his enthusiasm. PMCM simply does not have what it takes to turn these plans into a reality, and Michery knows that very well. For those of you who may not know yet, this is the same guy who took charge of Seven Arts Music, the new music division of Seven Arts Entertainment, Inc. (OTC:SAPX) last June. Seven months later, has has yet to wave his magic wand and turn Seven Arts Music into a money-making machine, let alone lifting PMCM off ground zero.
As for the large-scale promotion in support of PMCM shares, it might have already run its course and exhausted its potential, especially when a large chunk of the corresponding emails have already expired.
