The Dumping of Primco Management Inc (OTCBB:PMCM) Stock Continues
The last few days of intense trading and stock dumping are taking their toll on the stock of Primco Management Inc (OTCBB:PMCM) and its price has already started to go in an unwanted direction.
This is the first big dumping in the short history of trading of PMCM‘s stock. There was also a pump email that flew in yesterday, before the market opened, touting the company’s stock. No, don’t worry, it seems that the insiders haven’t yet decided to exercise such manipulative techniques. It’s rather the situation of a promoter who is trying to wash his hands from previous failed pump jobs and is distributing the emails for free.
Well, it didn’t work out the way that PennyStockCrowd.com wanted and they scored yet another strike in their long history of failed promotions as the stock of PMCM plummeted 46% in price. The company gapped down 16% and opened at $0.0143, followed by a drop to $0.0064 on very high volume with a total of 165 million shares that switched hands closing the day with $1.5 million in trade value.
Today isn’t starting any better either, even though the dumping is at a minimum. It seems that the people dumping shares have decided to take it easy after seeing what happened yesterday. That, however, didn’t stop PMCM‘s stock from dropping as low as $0.0051 in the early minutes. Things seem to have quieted down for now and the stock is at $0.0065.
The company seems to be loving the hype as they are coming out with new press releases whenever they can, however, it seems that they just can’t make up for the dumping fiasco. With these amounts of traded shares we reckon that Magna Group LLC might have already dumped all they have, but that doesn’t necessarily mean they are out of the game. They might be taking a bet at crushing the price by dumping huge amounts of stock, buying at the low and then waiting for it to get back up again making even more profit.
Of course there are all sorts of different scenarios, but one thing is for sure. If Magna Group LLC are still in the game it can get pretty ugly. This combined with the volatility of PMCM‘s stock makes us consider the ticker one of the riskiest at the moment, so be sure to do your due diligence and weigh out the risks for yourself before making an investment decision.
Another company that gained tremendous amounts in its stock’s price is Deltathree, Inc. (OTCMKTS:DDDC) who went a whopping 833% up in 2 trade sessions. Unfortunately, they might be heading the same road that PMCM‘s stock is on, because it started today’s session badly, losing 14% of its value, currently being traded at $0.128.
Joining the club of the recent big gainers(and even heading it) is no other than Premier Brands, Inc. f/k/a Tracksoft Systems Inc (OTCMKTS:BRND), who are up 1461% in price in 4 trade sessions even though they had one that ended in the red. They are currently priced at $0.0190 and no one can predict where this volatile ticker might go.
