Microelectronics Technology Co. (PINK:MELY) Start Pumping Themselves
As we have just learnt, Microelectronics Technology Co. (PINK:MELY) is the next promoted penny stock for today. A brand-new promotional email in support of MELY reached our database less than na hour ago solely aimed to impact MELY‘s market value in the current market session.
As it is, the promoters belonging to the Information Solutions Group, LLC have been rewarded a total of $25 thousand to spread awareness about MELY stock today. While this approach is typical of each paid pump job, the current one has a very distinctive feature with regard to the paying party. This time, the campaign is powered by … the company itself. In other words, it is the MELY management that has provided the money in the first place. Now that makes a huge difference. Why?
Unlike traditional three-party promotions, this one gives us the opportunity to point out the people whi will most probably be taking advantage of the campaign. Needless to say, the answer lies within the managerial body of the company. And a quick glance at MELY‘s financials reveals that the company practically does not have anything that could remotely be deemed commercially viable.
Therefore, MELY‘s managers have no tools at hand to get the ball rolling and they might have given up trying. Otherwise, we would at least be getting some 8-K regarding the attracting of fresh capital, but alas. Now, Edward Manetta, who is acting as both President and Secretary, has occupied yet another position – that of a third party in this pump scheme. Ironically enough, this position might turn out to be more lucrative than Manetta’s full-time job.
Whether or not that would be the case depends on investors’ susceptibility to take part in the trade with MELY shares today. The more traders fall into the promotional trap, the higher the impact on the stock. Of course, the company’s managers might actually use the proceeds from the pump to improve its office facilities because, if the company is to be taken seriously by the investment community, it had better move to a more office-like building than the one below.
