Pharmacyte Biotech Inc (OTCMKTS:PMCB) Pops on New PR
On Friday Pharmacyte Biotech Inc (OTCMKTS:PMCB) was back to lows of just over $0.10 per share. A press release that the company dropped near the opening bell yesterday reversed its red streak and pushed PMCB to a close 22% in the green.
The company announced it will be featured on the Discovery Channel, in a morning news magazine segment called “NewsWatch”. The piece airs today, between 7:00 and 7:30am. The press release goes to great lengths to underline the popularity of the channel and network and the fact that PMCB‘s story has the potential to reach the 96 million U.S. households that are the estimated audience of NewsWatch.
Traders obviously thought that this sort of early morning exposure was great for the company too and bought PMCB all the way up to its close at $0.134 per share. The company’s previous few news announcements did nothing to stop the steady decline from April’s spike of over $0.20 per share.
Sadly, PMCB is still being pumped. In fact, it is easily among the most heavily promoted OTC stocks of 2015 so far. We have tracked close to 150 promotional emails advertising PMCB‘s stock, the majority of them padded with monetary compensation. While the compensation handed out to pumpers is relatively modest, the effort to advertise PMCB is obviously very focused.
The company was pumped heavily back when it was trading as Nuvilex as well, with over 80 promotional emails sent for the old NVLX ticker.
How much of a further impact today’s exposure will have on the share price remains to be seen. PMCB‘s fiscal year end is in April so it will be another month until the company’s next report gets published.
