IC Punch Media, Inc. (OTCMKTS:PNCH) Crashes With Record Selling
Let’s hope IC Punch Media, Inc. (OTCMKTS:PNCH) does not alienate viewers and web visitors the way it chased away investors. The ticker dug itself deep into a valley after investors decided to realize whatever profits they could, dragging the ticker down 38% on Monday. After the last promotional mail touted the stock on Friday, PNCH lived through an all-time day selling record. More than 50 million shares flooded the market. 
The company, aiming to provide cable content and a locations web site, holds some noticeable deficits in its balance sheet:
- $1,121 cash
- $2.8 million total assets
- $788,661 current liabilities
- $195,082 annual revenues
- $6.2 million annual net loss
But the fundamental data are hardly the biggest factor for a double-zero stock. Currently, PNCH may rise on valley buying, or sink further as investors abandon the stock for good. In the last 10 days, PNCH has not released any news besides its latest financial results, but the campaign continued with a paid email on April 26th.
Often, promotional emails will increase attention and liquidity, only to give the chance of selling. The Penny St0ck Spy promoters claimed PNCH was a slow and steady climber, which also meant small corrections. But it turned out the PNCH stock decided not to perform as promised. Several other promoters took up PNCH, including 007 Stock Chat. Our database shows five emailed promotions in April for this ticker, with an unknown compensation, probably for free as an attempt to improve a promoter’s records.
Penny St0ck Spy has a limited record of promotions, but 007 Stock Chat has a longer list of picks. Looking at them, it is easy to realize how a promoted stock will sooner or later cause trouble. The pump for Seeker Tec International, Inc. (OTCMKTS:SNTL) shows a dramatic drop after the day of the promotion. The volumes generated by a promotion are not always a good thing, and it is best to know in advance if you could afford one of those risky parties.
