Axiom Corp (OTCMKTS:AXMM) is the latest penny stock that has become the target of a promotion scheme. Brighton Markets is the entity that is running AXMM promotion. The stock is being promoted through emails. Millions of free trading shares could be dumped during this promotion.
As is usually with most of the hyped-up promotions, it takes only few minutes to look at the balance sheet and note that the $173 million market capitalization that Axiom holds is beyond ludicrous. The company has $79,927 in current liabilities and just $822 in total current assets. It is evident that with these dismal numbers Axiom is not going to achieve any strong success. The latest surge in volume is only due to the extremely bullish emails and other boiler room tactics. With little revenue and no debts, the possibility of bright future is next to impossible. The impact of promotion scheme was witnessed in last trading session when AXMM stock declined more than 45% to close at $1.00.
Axiom started witnessing massive volume in the second week of March. Is the same time when people reported receiving promotional emails as well as boiler room calls. Brighton Markets Group is behind Axiom Corp stock promotion. It is a group that utilizes boiler room tactics and email campaigns to promote companies stocks. They send emails and call people to promote certain stocks. When Brighton Markets came into the market, they achieved a lot of success. However, things have changed for the group lately.
The surge in volume and promotional emails clearly indicate that there is someone who is interested to generate public awareness for Axiom Corp (OTCMKTS:AXMM). It is more of insiders’ interest, who own almost 26 million free trading shares in the company. There is no one else who can spend more than $170,000 in a month to create public awareness. Like always, retail stock buyers suffer as the insiders banked big.