Thursday, June 07, 2012 10:04:27 AM
1. Promo pump paid by the company/stock being pumped. There's nothing to indicate that this was the case here. I.e., not KMAG/Jeff Reid.
2. Promo pump by/paid by independent entity. They troll the market (especially pennies) for likely candidates. KMAG, as we know is a re-emerging company and therefore a prime candidate.
Case #2 seems likely. In this case the "independent entity" can simply buy shares at the super-cheap prices in the .000's. Then start the pump: "Blue Horseshoe loves Anacott Steel."
At a certain point in the rising sp, and as people are still chasing the price up, the entity and inside relations start to sell.
Again, the good news for KMAG is that it is possible a fresh P&D will take it to its true valuation levels. The bad news is the volatility and inevitable hatred of KMAG by some who will get burned. Sad because they will blame KMAG for something it has absolutely no control over.
And the P&D entities walk away clean. Some people will inevitably get burned. Others who know what is going on will use the P&D opportunity to make $ and flip out before they get burned.
Me, I have a core position I'm not planning on selling for at least a year based on current achievement and future growth, as well as the fact the KMAG is now greatly undervalued.
"A man's character is his fate." Heraclitus (c.540-c.480BC)
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