PMBY up 1232% on huge volume. So what happened?
Shares of PMBY closed Thursday at .28 up 1232% gaining .25899 on the day. Volume was 13 million shares on 3705 trades. Trading opened the day at .0215 and had a range between .021 and .72. At one point the stock was up 3328% before settling back.
So What Happened?
PMBY didnt have news today so what got investors all excited?
If we take a look at OTCMarkets we see that PMBY is listed as dark or defunct and has a stop sign warning investors that the company may not be making material information publicly available.
Well that doesnt sound good. If we look at the financials page nothing there either.
But, if we go to the disclosures tab we will see that PMBY did file the following today.
|05/13/2021||Quarterly Report – PMBY 1st Quarter 2021||03/31/2021||A|
|05/13/2021||Annual Report – PMBY Annual 2020||12/31/2020||A|
|05/13/2021||Quarterly Report – PMBY 4th Quarter 2020||12/31/2020||A|
The latest craze for speculators this year seems to be bidding up dark and defunct companies that are making an attempt to be current. Some of the moves have been crazy. Up thousands of percent over just a few days. While traders with fast fingers can and do make money on these runs, these stocks almost always come back to pre orbit levels.