Primco Management, Inc. (OTCBB:PMCM) Starts The Week Green
Primco Management, Inc. (OTCBB:PMCM) had some good gains in the beginning of last week that were a result of oprimistic PR, but the company stock finished the last 2 sessions before the weekend in the red, obliterating around 25% of the value it had previously accumulated.
Early morning yesterday, there was a press release made by the company, which informed us that there will be no share increase on March 28 as it was previously announced, and the news seem to have been to the liking of investors.
The stock began rising immediately after market open, reached a high of $0.0034 and closed the session with a 20% gain at $0.0030. The volume didn’t differ much from Friday’s and we saw a total of 526 million shares change their owners, generating $1.6 million in trade value.
There is a lot of commotion since today’s market open, as PMCM gapped up and opened at $0.0049 per share and reached as high as $0.0062, before dropping to its current position of $0.0041. The stock message boards are buzzing and it seems like it is going to be an intense day of trading, with share volumes reaching above yesterday’s in just over two and a half hours into the session.
The current trade value has come at $2.2 million and considering all the hype generated on the message boards it can go a lot higher. It remains uncertain, however, if the massive amount of shares that are being traded at the moment will push the price lower.
The stock is just too volatile at the moment and anything can be expected. In any case, don’t forget to do your due diligence and weigh out the risks before making an investment decision.
Tranzbyte Corp. (OTCMKTS:ERBB) also had a good session yesterday, climbing 32% on a $26 million dollar volume. Other tickers in the medical marijuana sector, like Growlife, Inc. (OTCBB:PHOT) and mCig, Inc. (OTCBB:MCIG) on the other hand sunk more than 10%.