On various occasions, the stock prices of PositiveID Corp (OTCMKTS:PSID) have been pumped via email alerts since the beginning of March but last week the attempts to artificially promote the company got stronger. The amount of funds disclosed as compensations by the several newsletters were substantially larger.
Last Tuesday, the pump outfits BuyPennyStocks and SuperSt0ckPlays introduced a series of emails for $25,000 payment. A newsletter, Penny Stock Professor, first circulated a promotional email on last Tuesday and then added one more on the following day. Later on, the pump was carried out by the partners of Damn Good Penny Picks, Penny Stock Newsletters, Beat Penny Stocks and Penny Stock Buzz, to name a few. For the last pump, they received $15,000 as compensation.
The excitement continues
PositiveID tried to keep investors excited by releasing a new press release last week in which it stated that they had filed for an additional patent for its ‘Firefly Dx’ real-time PCR pathogen detection system. The very next day, an entity called the Daily Stock Reporter released an encouraging press release highlighting the prospects of the company. The disclaimer posted on the page stated that they were paid compensation of $25,000 for the period between March 17, 2015 and March 19 for disseminating positive information about the company. Also, the same page highlighted the fact that the entity only releases favorable information as they are compensated for same work.
The future ahead
Despite all the hype and pumps, PositiveID Corp (OTCMKTS:PSID) chart performance was dismal in last week. However, the company tried to make an upward movement on last trading session of the week. The stock price of PositiveID surged more than 17%on last Friday to close at $0.03. It erased a major part of Friday’s gains in last trading session. The company has lackluster financials and poor liquidity that forces it to opt for the dilution of the common stock.