Premier Brands, Inc. (OTCMKTS:BRND) Drops After PR-Fueled Jump
July has been a volatile month for Premier Brands, Inc. (OTCMKTS:BRND), with the stock fluctuating between well under a cent and $0.022. The last two sessions saw the ticker retrace 20% down the charts after the last bit of PR propped the stock up.
BRND simmered quietly around $0.0025 over the previous two months. Then, on July 10 the company released a press announcement related to the upcoming launch of Dennis Rodman’s ‘Bad Boy’ vodka. The PR sent the stock that was previously trading slowly into a frenzy and BRND closed 200% and nearly 300% in the next two sessions. The pumpers did not wait for another invitation and sent several touts over the next two days.
Another press announcement came on July 11, informing that BRND has been found guilty of participation in a spam pump campaign, after a complaint was filed by a private citizen back in 2012. The stock reacted by reversing its movement and dropped 25% on volume comparable to the previous two days of climbing.
The price fluctuated on steadily decreasing volume until a Tuesday press release unveiled more news about an ‘open house’ event promoting the Dennis Rodman vodka. The day of the release saw BRND climb by nearly 19%, then the stock shifted in reverse again.
It’s very difficult to predict where the stock is next going to find itself and it’s not our intention to predict its movement anyway. BRND‘s next quarterly report is due within just a few days, after the extension the NT 10-Q provided, and it should contain both updated information about the company’s outstanding shares, as well as updated financials that should help investors make a more informed choise. Judging by the share volumes shifted in single days, the company’s outstanding shares are definitely not 52 million – the number listed in the last report, dated April. Traders should simply be extra careful with companies that move solely on hype after spending months just on the outskirts of triple-zero land.
Other stocks that skipped about yesterday’s charts include NanoTech Entertainment, Inc. (OTCMKTS:NTEK) who are also swinging with marked volatility and closed the session 8% down. Xumanii, Inc. (OTCMKTS:XUII) maintained their heavy volume but closed over 15% down.
