Yesterday traders had a chance to lose some money on MacroSolve, Inc. (PINK:MCVE
, MCVE message board
). A paid pump
had the stock open with a gap, and there was no chance to make any profit if one had entered yesterday.
In the end MCVE closed down 20.38% at $0.0875. Approximately 1.2 million shares changed hands, most of those at about $0.12.
A third party paid $20 thousand for the pump of MCVE, which may continue today, although when promotions last more than a session, the effect tends to go away the very first day.
In addition to the pump, MCVE issued a press release. The company announced the launch of a T.G.I. Friday's app in collaboration with The Richards Group.
It seems shareholders will have to wait for a financial report to see whether this collaboration will do anything for the business performance of MCVE. The annual report showed MCVE is still losing a lot of money.
The market reaction shows that at this point investors are not convinced MCVE is worth more. Those who bought in the promotion may have to wait a long time before they can break even, if such an opportunity ever comes.