Pan Global Corp. (OTCMKTS:PGLO) Attempts Recovery – Too Little, Too Late
After slipping down the charts in a catastrophic streak of three sessions last week, Pan Global Corp. (OTCMKTS:PGLO) attempted to recover on Friday, closing a quarter up. PGLO added 6 cents to its share price, which is little consolation to shareholders who watched it slip 60 cents down.
Share volume on Friday was again restrained, compared to the first half of last week, with 2.6 million shares changing hands. The company has not published any new press releases and the promoters who were touting PGLO with such vigor over the last three weeks are also nowhere to be found.
We half expected Stock Tips, the outlet that bagged $1.1 million for pumping PGLO, to come up with yet another email despite the horrible crash, spinning a wonderful bounce tale to draw more investors into the stock, at supposedly ‘bargain’ prices. However, the promoter is still silent, likely unable to muster the face to keep pushing the ticker after last week’s performance.
With a few people on discussion boards still singing praises to the stock and predicting a further technical bounce, disregarding the fact that all technical analysis is largely inapplicable for a stock that’s been artificially inflated to kingdom come through expensive pumps, the fact of the matter is the ticker is still priced below its first day of pumping.
Where it stands at the moment, PGLO is a lesson learned for everyone new to stock pumps. It remains to be seen whether or not the SEC suspends yet another pumped company, the way it did suspend some other very recent large pumps. Examples include Pacific Clean Water Technologies, Inc., f/k/a Unseen Solar, Inc. (OTCMKTS:PCWT) – the swan song of promoter Awesome Penny Stocks. PCWT is now trading at fractions of a cent with the suspension lifted. Press Ventures, Inc. (OTCMKTS:PVEN) are still suspended after getting pumped in late October.