PositiveID Corp (OTCMKTS:PSID) surged more than 7% on last Thursday trading session, when another round of pumped emails hit the web. The pumpers have done a substantial work for small compensation while touting the company’s stock in past few months. The stock price has witnessed dramatic movement recently, but the dollar volumes on which movements are coming are pitiable.
The new round of pumpers by firms such as DavidCohen, MichaelStone and ResearchDrivenAlerts were said to have received compensation of just $7, 000, but it is just one of the promotional emails in a long series of promotional campaigns. It has turned into a tough time for opportunistic investors as they are unable to make money easy money out of PositiveID. The problem with the pumps is that they lose momentum quite quickly. They have a short-term impact leading to momentary gains. The technical support but the probability for quick profits is slightly lower.
The initial movement
Before this round of promotional emails, the share price of PositiveID witnessed pumpers circulated by outfits SuperSt0ckPlays and BuyPennyStocks. They started with a round of emails for compensation of $25,000. The pumpers came on two consecutive days. Along with the pumpers, the investors got press releases in which the company announced that they have filed to get an additional patent for its new product under Firefly.
On the same day, a firm named as the Daily Stock Reporter termed PositiveID Corp (OTCMKTS:PSID) as a company with promising potential. Again, it was a paid promotion under which the entity received a compensation of $25,000. Moreover, it only publishes positive information on the company. The problem of the company doesn’t ends with the promotional emails. In fact it extends to the other major red flags that are the dismal financial performance and also the massive dilution of the stock. It remains to be seen how the stock price will trade in the coming sessions.