Pan Global Corp (OTCMKTS:PGLO) Shows First Signs of Hesitation
After three consecutive green sessions between Monday and Wednesday, Pan Global Corp (OTCMKTS:PGLO) finally displayed a correction. The ticker opened the day at $0.432 and immediately started sliding. A few minutes in, it registered its intraday low of $0.37 and although it managed to regain some of the lost ground, the few hours before the closing bell were quite depressing. PGLO finished the session at $0.39 which is around 8% below Wednesday’s value. The trading volume was smaller compared to the previous days and yet, the 1.56 million shares that changed hands managed to rack up a total trade value of around $623 thousand. These are still some significant figures and many people are now wondering what caused the hesitation.
There certainly isn’t anything immediately obvious to push the price down. In fact, about an hour before the opening bell, PGLO announced that their information is now available through Standard & Poor’s capital corporation records platform, which should give shareholders and potential investors a better access to the all important filings. That, coupled with the lack of any other developments, could prompt some of the more optimistic traders to say that the loss from yesterday is nothing more than a healthy pullback triggered by the three positive sessions that preceded it. If you’ve been following our articles closely, however, you know that there are some other things at play.
We are talking about the $1.1 million pump that is starting to pick up speed. At first, there was just the landing page set up by Stock Tips and the video on it that was put together by Mr. Mike Statler. Now, it seems, the promoters are willing to spread the word around. The colossal budget means that gaining some more publicity shouldn’t be that much of a problem. They are trying to achieve this through their old friends, advertorial website, invests.com. As you can see from this link, Stock Tips paid Invests $20 thousand to write a rather amusing article according to which PGLO is about to make you very rich, but, for some reason, President Obama is doing everything he can to put a spanner in the works.
As we already mentioned, these are the same people who touted Amarium Technologies Inc. (OTCMKTS:AMMG) – a stock that is currently around 57% below its hype-induced 52-week high of $0.59 per share. They were also responsible for the pump on Eco-Tek Group Inc (OTCMKTS:ETEK) and as you can see from the chart on the right, the results of this campaign are even more horrific.
Stock Tips and Invests.com are not the only ones being optimistic about the future. PGLO themselves announced on Tuesday that they have retained Quality Stocks (QS) as their investor relations partner. The press release failed to inform the shareholders what the fee is, but when you check out QS’ disclaimer, you’ll see that the company is going to pay a not-inconsiderable $25 thousand for 150 days worth of IR services.
This begs the question: “Shouldn’t PGLO‘s management team be more focused on getting the operations going, instead of splashing out on an advertisement campaign?”. We’ll let you decide, but while you’re making up your mind, you might want to check out some of our findings listed in our first and second articles and weigh the risks carefully before making your next move.
PGLO lost quite a bit of its value during yesterday’s session, but other companies like Creative Edge Nutrition Inc (OTCMKTS:FITX) (who wiped out nearly 44%) and First Titan Corp (OTCBB:FTTN) (who erased around a fifth of their market value) certainly put on a more diabolical performance. Is PGLO in danger of showing similar daily losses in the near future? Only time will tell, but we reckon that with the large scale pump, there is definitely a possibility.
