The Biggest Dumping in The History of Primco Management Inc (OTCBB:PMCM)

Friday was a big success for the stock of Primco Management Inc (OTCBB:PMCM) as it skyrocketed an unprecedented 577% up the charts with a massive amount of traded shares which went well above their average of 16 million.

In the short history of trading for PMCM the jump from $0.0017 to $0.0122 is the biggest one the company’s stock has had. The volume is not to be taken lightly also with a total of over 202 million shares that switched hands making the total trade value come at $1.17 million.

Today’s trade session has already started and there is one big differance. PMCM‘s stock is heading south on a massive volume. The stock is falling under pressure from the huge dumping of stock that is done with the aid of a promotional email that flew in our inbox just 1 minute before market open.

In the short time that has passed since the first bell PMCM‘s stock lost 30% from its value as it dropped from its opening price of $0.143 to the double zeros at $0.0085 with the huge amount of 89 million traded shares generating a trade value that is nearing $1 million.

The PR team aren’t idle as well and are aiding the promotional campaign with fresh news about production. That, however, isn’t enough to save the stock’s price from the dumping of the insiders. Just so we have a better idea what makes up for PMCM‘s $2.3 million market cap we will take a quick moment to get you acquainted with the numbers of prime interest from their quarterly report for the period ended March 2013.

• cash: $148
• total assets: $1 million
• total liabilities: $1.1 million
• revenue: $0
• net loss: $82 thousand

That doesn’t look very good, does it? Well, if that is bad, we don’t know how you would view the next thing that we uncovered. On June 28 they filed an SC 13G form informing the authorities and the public that 25 million shares are in the hands of Magna Group LLC. Why is this bad? Put simply, Magna Group LLC has a long history of participating in massive pump schemes the last that we remember of being Smart Holdings Inc (OTCMKTS:SMHS). With all this we can conclude that PMCM is a risky stock, so be sure to do your due diligence before jumping in.

Another company that had a big percentile movement in Friday’s trade session was Oriens Travel & Hotel Management Corp. ( OTCMKTS:OTHM), whose stock jumped 242%. The differance between OTHM and PMCM is that the first are still going stong today with yet another 75% up and are currently traded at $0.0042.