Virtual Sourcing, In (OTCMKTS:PGCX) Coming Down Fast

The pumpers often try to be as creative as possible when trying to entice you into buying shares of this or that company. Truth be told, they need to be. After all, the ventures that they feature in their prolonged, overly optimistic narratives are, more often than not, financially distressed penny stocks that are about to jump head first into oblivion. In the case of Virtual Sourcing, In (OTCMKTS:PGCX), the promoters have placed a huge banner at the very top of the specially designed landing page saying that PGCX is “Turning Fiberglass Waste Into A Financial Gold Mine“. The so-called report in question came out about ten days ago and looking at the chart right now, we’re not sure what they’re on about.

During the first couple of days of the pump, investors couldn’t care less – trading volumes were pretty disappointing and the price was reluctant to move. Then, it did show some signs of waking up, but the number of shares traded was so small that, once again, nobody noticed.

It was clear that one landing page wasn’t going to be enough and the people in charge of the promotional budget decided to give the newsletters a call. The first email to land in our inbox came just a minute after the start of August 20’s session and it opened the floodgates for the rest of the pumpers. By the end of the day, the total number of alerts had grown to fifteen and with that sort of hyping, a move in the right direction was rather logical. Even so, at 140% in daily gains, the surge managed to surprise even the biggest skeptics.

The excitement was still going strong throughout the two sessions that followed and the run peaked at the $1.10 intraday high registered on August 22. Shortly after that, Stock Mister (the biggest newsletter pumper to take part) sent out a couple of emails suggesting that they’re moving on to their next pick and that should have probably served as a warning of what was to come.

Apparently, it didn’t. The following session also ended in the green but the percentile movement was rather small and the trading volume – tiny. The weekend was coming and the third parties paying for the pump had to think of some more ways to get people excited about PGCX. They came up with a second landing page. The domain name suggest that Stock Authority Report is going to become a full-fledged promoter in the future but, by the looks of things, they aren’t off to the best of starts.

The session following the launch of the second website was on Monday and it resulted in around 26% in losses. On Tuesday, the ticker sank a bit further down and yesterday, despite Damn Good Penny Picks (who disclosed a $35 thousand compensation) and their affiliated newsletters’ efforts, a further 13% of the value was demolished.

“What happens next?” is the question of the tormented minds of the people who have registered some big losses (some of them were forced to wave goodbye to around 53% of their investments). Unfortunately, it’s really hard to say at this point.

When the promotional campaign for Arch Therapeutics Inc (OTCBB:ARTH) was gathering steam, for example, we expected a prolonged and steady upward movement followed by a more gradual descend. It just wasn’t to be. The peak was so brief that a large portion of the traders were caught off guard meaning that thousands of dollars were lost along the way.

Sanborn Resources Ltd (OTCMKTS:SANB) did manage to perform marginally better with not one, but a few attempts to give investors a chance for a profit but it too left a rather sour taste in the mouths of quite a lot of traders. That’s why even if you are not bothered with the fact that, as we mentioned in our previous article, PGCX‘s press releases aren’t particularly informative and even if you don’t care about the company’s shady past (which we described in our first coverage), treading carefully is an absolute must because of the continuous promotional pressure.