Priority Aviation Inc. (OTCMKTS:PJET) Gets A Pump Too

Yesterday saw Priority Aviation Inc. (OTCMKTS:PJET) add 62.50% to its market value, pushed up by a pump by MFG LLC, which is the entity behind the so-called Wolf of Penny Stocks.

Yesterday saw two big promotions of otherwise unknown companies hit inboxes and stir up investors. Anyone who’s kept an eye on OTC Markets pumps, and big movers in general, will have noticed that PJET and PF Hospitality Group Inc. (OTCMKTS:PFHS) drew very similar chart patterns on that day.

Both registered a surge of activity that effectively brought them out of illiquidity. Then both dropped, managing to retain just a fraction of their gains.

This is no coincidence, since PFHS and PJET show far too many similarities. Both companies are far from financially stable, although it is arguable which one has it worse, seeing as how PFHS literally has nothing but $0.4 million debt to its name, while PJET is actually making revenues, but is struggling beneath a staggering $18 MILLION worth of debt.

Both companies got hit with a promotional e-mail early on yesterday. Both tickers surged, then dropped – and, in both cases, the blame for the drop may reasonably be thrown at toxic dilution.

As we discussed earlier today, PFHS has some pretty toxic funding agreements. Well, PJET is no different in this regard – just a couple of months ago, it was issuing millions of shares of its stock for as little as $0.00085 a pop. Need we say more on the matter?

Long story short – PJET is an company with unimpressive achievements, that received a pump, jumped, immediately swooped down once heavy selling started, and due to the fact that it is in the habit of issuing stock at insane discounts, it may end up crashing even further down the charts.

Let the buyer beware.