Pan Global Corp. (OTCMKTS:PGLO) Shooting for the Stars

Last Friday, Pand Global Corp. (OTCMKTS:PGLO) had another amazing session, but as I mentioned in my previous article, it maybe a disaster waiting to happen.

PGLO closed up another 28.46% at $0.7361 per share. It also got another volume high, as more than 8.9 million shares changed hands.

This impressive market performance gave traders an opportunity to make a quick profit, but it also brings high risk of losing a lot of money. On Friday the company didn’t announce anything and there weren’t any new filings.

There is a running paid pump job on PGLO. The compensation is $1.1 million. There have been a lot of companies with expensive pumps to make such runs. A couple of examples from this year were Norstra Energy, Inc. (OTCMKTS:NORX) and Polar Petroleum Corp. (OTCMKTS:POLR). A lot of people got burned on those two, and there will be some who will get burned on PGLO.

At $0.7361 per share the market valuation of PGLO is more than $114 million. It maybe hard to sustain such a valuation for a long time. As stated in my previous article, the company has limited assets and the hype is being built around the idea PGLO will acquire a small-hydro project in India.

At this point, the company hasn’t announced any additional financing and the time for the payment for the first closing tranche is running out. Unless PGLO manages to deliver some solid results, its stock may crash at any moment.