Is The Promotion For Biozoom, Inc. (OTCBB:BIZM) Near Its End?
Reality finally caught up with Biozoom, Inc. (OTCBB:BIZM) and they crashed hard during yesterday’s session. For most of the day the ticker was recovering some of the ground it lost on Wednesday but just before closing time it started plummeting down and barely stopped at $3.14. Traded volume was lower but the 5 million traded shares are still quite significant for these price levels. The over-inflated stock has now lost more than a dollar in the last two days.
As we discussed in greater detail in our previous articles about them, the company has been displaying some of the telltale signs of pump scheme. The chart performance of the stock was completely disconnected from the reality of their fundamentals. Backed up only by the artificial hype the fall was just a matter of time.
Global Investor Research LLP. spared no expense in their efforts but the price target of $10.30 is still as unrealistic as it ever was. The funny part is that despite spending at least a couple of millions on hard mailers, radio advertisement and ads running on Google, Yahoo and AOL, they disclose receiving no compensation at all. But the seed shareholder who bought 20,1 million shares, for just $0.003 each, must have raked in some nice profits.
Even the current market capitalization of $187 million is grossly overpriced having in mind that at the start of the year BIZM was nothing but a shell with ZERO assets. Investors might also have decided to cash in while they have the chance after seeing the skull and crossbones mark given to BIZM by OTCmarkets.
BIZM were not the only ones suffering a horrendous drop yesterday. Prince Mexico S.A, Inc. (OTCMKTS:LUVE) lost another 25% and are in a state of free fall. The newsletters that were touting the company were forced to issue a plethora of apology emails to their subscribers, while in the meantime pocketing their portion of the $350 thousand pump. But the prize for “biggest disaster” goes to the stock of African Copper Corp. (OTCBB:ACCS). In a glorious train wreck of a session they lost 75% percent on the first day of the $500 thousand pump.
It is impossible to speculate with any degree of certainty how low can BIZM go before it stops correcting. Their “cutting-edge” product is nowhere to be seen and no date has been set for its supposed launch. The dip may induce some buying but it is best to just skip the stock entirely.
