Biozoom, Inc. (OTCBB:BIZM) Drops Slightly Amidst Promotion
The time Biozoom, Inc. (OTCBB:BIZM) spent above $4 was short indeed. Many investors thought that the stock would test the 5 dollar mark but alas they couldn’t be further from the truth. Yesterday the ticker went down by 8% to close at $3.92. Traded volume remained high and once again 9 million shares were shifted throughout the day. So far the movement of the stock is an exact repeat of last week’s. On Monday and Tuesday BIZM climbed explosively up the chart followed by a small withdrawal on Wednesday. If the trend holds Thursday and Friday will see the stock recover and continue upwards albeit on smaller gains.
The promotion for BIZM, however, is still in full swing with even more hard mailers distributed by the Stock Report. It seems they are doing their part, even launching in circulation a radio ad, in order to lift the stock to the unrealistic price target of $10.30 per share that they themselves issued. If you have read some of our preivous articles covering BIZM you would know that the promotion is not the only sign of a pump scheme displayed by them. Another big giveaway are the 20 million shares owned by seed shareholder who paid only 0.003 per share after a 33-for-1 forward split.
Yesterday BIZM decided to support the hype themselves by releasing another fluff PR announcement. Instead of finally saying when their miraculous product will be ready for sale, they decided to inform the public of their willingness to discuss intellectual property (IP) licensing and other models of partnership. BIZM might as well try to secure some other forms of revenue having in mind that their product has failed to be marketed on two separate occasions in the past.
And if these red flags aren’t concerning enough for you, OTCmarkets has branded BIZM with their skull and crossbones mark.
A recent pump that yielded much more horrific results is the one for Prince Mexico S.A., Inc. (OTCMKTS:LUVE). Despite the budget of $350 thousand the company bombed hard losing 60% yesterday. Some of the newsletters touting LUVE were even forced to come out and apologize for the disaster. Some more apologies might also be in order from the pumpers of US Energy Initiatives Corporation, Inc. (OTCMKTS:USEI) who started crashing on the first day of the $150 thousand promotion.
For now BIZM remains strong but the crash is just a matter of time. The stock is way too overpriced and when it finally starts correcting the drop to the bottom will be disastrous.