Primco Management, Inc. (OTC:PMCM) Bounces on Annual Results Release
Here is another company promoted until everyone was sick of it- making a comeback, which may turn into a dead cat bounce. Primco Management, Inc. (OTC:PMCM) added nearly 75% to its value, trading at $0.032, and in the past few days more than doubled its price. Now PMCM stands at the position where investors moved away and the ticker went into freefall on large-volume sales. 
The reason for the fall was the last promotional email, stating clearly to all receivers to “Abandon ship!” for this ticker. But the very low price still seemed like an opportunity, and PMCM crept out of the valley, propped along by the release of the annual financial report. 
While a penny stock trading as low as PMCM moves mostly on sentiment and hype, the newest filings may reveal further potential traps, or maybe opportunities. For 2012, PMCM has:
- Zero revenues
- $10,000 net loss
- Zero cash
- $10,000 total liabilities
It seems PMCM is a bit short on resources to attract the talents as a music powerhouse, and provide the content it promises. But no publicity is bad, and this note reminded investors that a ticker was on sale at a bargain price. How long the climb will continue is anyone’s guess, and it is not unusual for pumpers to repeat their attempts.
The main promoter for PMCM was Damn Good Penny Picks. In April, there was a total of three emails for this ticker, for a total budget of $42,500. The pumpers withdrew when the volatility became too high, and as we mentioned, actually precipitated the sales by stating the stock was already defunct.
It seems Damn Good Penny Picks brings bad luck, since one of its latest mailings brought dismal sales and price depression to Premier Brands, Inc. (OTC:BRND). The ticker went down 60% right on the day of the promotion, as the increase in activity was grasped as an opportunity for selling.
High volatility is always a bad sign among penny stocks, meaning you could lose your investment in large part or even in whole. It is best to stay away from the selections of Damn Good Penny Picks, unless you are certain you can afford the risk.
