PRMO has sat fairly quiet. Traders have bought and sold this stock, and as I have stated many times, there are not many believers left. Essentially not a lot of people think PRMO can ever post a nice rally.
Today someone let their money do the talking. A late day $40,000 200 MILLION share block hit the tape less than a half and hour before the close.
The company reported $4 million in revenue last quarter. $3 million in net income. Extrapolate that over a full year and you are looking at $16 million in revenue and $12 million in net income. This gold stock remains the cheapest in the entire stock market.
With everything going on in the world gold is the one true hard asset and continues to see tremendous demand.
This $40k block could be the start of some nice money flow into this stock. I would keep a close eye on PRMO next week. If the money does indeed come flowing in, this stock could be in for a sharp rally.
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3 comments:
am i the only person who thinks that guru is being paid to post about PRMO? he never once discussed how PRMO raised it's A/S to 20 BILLION. after it started seeing volume at .0001/.0002.. HMMMMMM. why would a stock raise it's A/S to 20billion?
He has talked about the A/S. There have been other stocks with high A/S count that have run like crazy. So why can't PRMO? Someone is buying $40,000 of this stock despite the share count!
actually, he's never once spoken about the a/s raise to 20billion. lets think.. why would a stock raise it's a/s to 20billion? obviously to dilute. and why did it happen when vol started pouring in..?
yes.. high a/s stocks do run from time to time, but most of the time they go bidless, r/s and rinse/repeat.
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