Promotions Don't Help the Price of The Automotive Resource Network Holdings (PINK:ARNH)
The Automotive Resource Network Holdings (PINK:ARNH, ARNH message board) has been promoted actively in the past few days. The latest pump campaign could affect the market today.
Yesterday ARHN closed up 6.21% at $0.1489 on approximately 949 thousand shares, after the first promotion on Monday resulted in a 15.54% drop on 2 million shares.
The cost of the first promotion was $70 thousand. The new one costs nearly ten times less - $7.5 thousand.
In addition to the the pump campaigns, ARNH has issued two press releases in the last few days. Supposedly, the company is launching a new product for glass protection.
Despite both the promotional activity and the press releases ARNH is still significantly below the price level before the hype.
The company is yet to file its annual report and traders have little financial data to go on. Additionally, ARNH is on the pink tier, which doesn't help the information situation.
The effect of the new promotion is yet to be seen, but keeping in mind the negative effect of the first promotion, the lower compensation, and that there is limited financial information, ARNH may be in for another uninteresting session.
