There is no ray of hope left for Axiom Corp (OTCMKTS:AXMM) as it keeps getting crushed by shareholders and investors. Though there is no new development reported by the company, yet the stock is being trashed by one and all.

Pump and dump

Axiom Corp (OTCMKTS:AXMM) makes a case of an exceptional penny stock that has climbed all the way up to $1.87 and then journey back below one cent almost immediately. The reason for the company to ascend to such highs was a result of hype created by InvestorEdge, but, unfortunately, the excitement was short-lived. The series of pump articles aimed at creating artificial interest in the stock appeared to be a plan chalked by a few shareholders from 2012, who wanted to unload their shares and book profits.

After the recent pump and dump, the market cap of the company stands at $6 million, which is in wide disparity with the company’s real financial position. As per the most latest filing by the company pertaining to its first quarter, it held a cash reserve of mere $137,000. The current assets and liabilities of the company are $235,000 and $480,000 respectively. The company said to have earned revenues worth $11,301 while its net loss stands at $384,000. Going by these figures, it is best to stay away from the stock at this point of time.

New announcement

Though it is usual that such a drastic crash follows a bounce, but still, it is difficult to take such call solely on the basis of pump articles. Axiom Corp (OTCMKTS:AXMM) released its last press release in mid-June when it had announced the development related to its majority-owned subsidiary, PaperNuts Corporation. The company had informed that PaperNuts has filed applications with the United States Patent and Trademark Office (USPTO) to secure a patent for innovations in the latest packaging technology.

The stock of Axiom Corp (OTCMKTS:AXMM) crashed by nearly 47% to $0.0374 during the previous trading session as a total of 823,000 shares changed hands.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg,,, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.