PositiveID Corp (OTCMKTS:PSID) Swaying In Both Directions

[[tagnumber 0]][[tagnumber 1]]The stock of PositiveID Corp (OTCMKTS:PSID) was struggling for the better part of the first half of this year. The ticker has been descending the charts since the second half of March and had lost nearly 50% by the middle of this month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Then we suddenly saw an increased interest in the company stock that was expressed in a sudden surge both in price and in volume. The reason – on June 16 the company was mentioned in a press release published by The Wealthy Biotech Trader (TWBT) alongside Propanc Health Group Corp (OTCMKTS:PPCH) and TapImmune Inc. (OTCMKTS:TPIV) as one of three companies that have the “[[tagnumber 6]]ingredients to follow in the footsteps of[[tagnumber 7]]“ Advaxis, Inc. (NASDAQ:ADXS).[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]That sounds great right? Yes, until you read the disclaimer. As we mentioned in our previous articles, [[tagnumber 12]]TWBT[[tagnumber 13]] is compensated $25,000 a month for a promotional campaign by the company itself. Furthermore, [[tagnumber 12]]TWBT[[tagnumber 13]] owns a $62,500 convertible note that they have already said they intend to capitalize on as soon as they can, which puts them in a position of conflict of interests.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, that didn’t stop hyped up investors from putting their hard earned money in [[tagnumber 12]]PSID.[[tagnumber 13]] The ticker price grew by nearly 100% in a matter of just 3 days last week. Friday, however, showed that the situation is not that rosy and [[tagnumber 12]]PSID[[tagnumber 13]] fell some 26.90% in value while the 30 million shares that were traded generated $1.03 million in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company stock did manage to recover in yesterday’s session as it added 23.61% to its value, crossing the 30 cent barrier once again for a close at $0.0356. This time the volume was half that of Friday’s session and generated $566 thousand in daily trade value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Another paid promoter issued a press release just before today’s market open. The Daily Stock Reporter, an EGM Firm, Inc. owned outlet issued a click–bait PR titled “[[tagnumber 6]]Something the Turmoil in Greece Hasn’t Effected[[tagnumber 7]]”. Needless to say, there aren’t many companies trading in the OTC markets that can easily be effected by something that is happening half a world away. Most of the reasons that push companies here are related to fluff PR and pump campaigns.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The strange thing is that EGM Firm, Inc. wasn’t compensated for the promotional campaign this time. And we say “this time“ because the company was paid $25,000 to pump [[tagnumber 12]]PSID[[tagnumber 13]] by Hanover Financial Services back in the middle of March.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Considering the fact that even though [[tagnumber 12]]PSID[[tagnumber 13]] is still being touted the ticker is 7.30% in just an hour and a half in today’s trading is enough evidence of the stock’s volatility. Let the buyer beware. [[tagnumber 2]]