Primco Management, Inc. (OTCBB:PMCM) Still On Its Way Up
Primco Management, Inc. (OTCBB:PMCM) had a varied portfolio even before joining the marijuana market in February this year. Although the marijuana rush has subsided somewhat, PMCM still behaves in the classical opportunistic pot-stock manner – it exploits the market’s volatility at every opportunity. Its last aggressive chart climb took it as high as $0.0053 during yesterday’s trading session.
PMCM has certainly had a rough ride since its incorporation in 2010. For a while it seemed like it was doing passably for a company still in development. That all ended when company stock was smashed by the backlash of an extensive pump campaign, which launched PMCM sky-high for a short while back in 2013. As usual, once the touts ceased, the company immediately plummeted to the depths of the stock charts, where it remained for almost a year.
PMCM shares remained dirt-cheep for some time, before the company decided to board the cannabis train this year. Now PMCM is on a continuous rise, and enjoying the support of investors, despite its obvious faults. PMCM‘s new found momentum is a sure sign of investor trust in its commercial progress, but the fact remains that the company’s still operating in the red:
- cash – $115 thousand
- current assets – $3.1 million
- current liabilities – $3.5 million
- quarterly revenues – $29 thousand
- quarterly net loss – $1.6 million
With these numbers in mind PMCM hardly appears worth a market cap of $25.6 million, but ultimately it’s up to the investors to decide if they want to invest in high risk stocks.
Another company that’s been called “overhyped” and “overrated” lately is Growlife Inc. (OTCBB:PHOT), who managed to stabilize at 0.59 yesterday after jumping on Tuesday.
