Medient Studios, Inc. (OTCMKTS:MDNT) Plummets By A Third in Pre-Holiday Session
Not everybody got a reason to celebrate this July 4th and Medient Studios, Inc. (OTCMKTS:MDNT) were one of them. Just before the holiday they saw their stock lose 31%. And at the current price levels that means nearly 60 cents were gone in the short span of active trading. Still things could have gotten way worse than the $1.30 close as the stock went as low as $1 just half an hour before closing time.
We previously covered MDNT back in late-April when the first wave of promotional emails arrived. Back then the involved pumpers received compensations ranging form $5000 to $7000 but failed to have any kind of effect on the stock’s movement. Now The Next Hot Stock and Penny Stock Pipeline have stepped up and taken their place issuing a new alert email every few days since June 17.
This time around they had much greater success and MDNT rose from $0.80 to $2 in just a couple of weeks. And we gather both newsletters got some nice gains along the way seeing how they had 500 thousand shares and were eager to sell them away. Even at the current prices they would still bag quite a substantial sum. Both promoters have a limited working history and have began active operations since May.
NBT Equities Research (NBT) also decided to join in and on July 2 posted a report about MDNT on their site. The author of the article was none other than Mr. Tobin Smith. If you recall last month his contract with Fox Business Network got terminated after he decided to boost the stock of Petrosonic Energy Inc, (OTCMKTS:PSON). For this service he got paid $50 thousand by an unnamed third party.
The company has improved on its finacials considerably for the first quarter of 2013 posting almost $2 million in revenues and a net income of $560 thousand. One big concern remaining is the continuing lack of cash which once again amounted to zero. The last news that came from MDNT regarded their studioplex in Georgia. The plans have been approved and construction should be commencing shortly. The project is expected to be operational in the first quarter of next year.
Among the heavy gainers just before the holiday was the stock of Prince Mexico S.A, Inc. (OTCMKTS:LUVE). They added 42% in an attempt to recover from the devastating pump they suffered in mid-June. Xumanii, Inc. (OTCMKTS:XUII)’s active promotion lifted the stock another 10% up despite the limited time of the last market session.
