Georgi Kamburov

PositiveID Corp (OTCMKTS:PSID) Gets A Paid Pump

by Georgi Kamburov March 23, 2015

The stock of PositiveID Corp (OTCMKTS:PSID, PSID message board) had been occasionally pumped through email alerts since the start of the month but last week the efforts to artificially hype-up the company got even stronger. The amount of money disclosed as compensations by the various newsletters also became substantially larger.

On Tuesday the pump outfits SuperSt0ckPlays and BuyPennyStocks issued a round of emails for a $25 thousand compensation. A newsletter called Penny Stock Professor sent one email alert on Tuesday and another one before the start of Wednesday’s trading again for the sum of $25 thousand. On Thursday the pump was carried through the affiliates of Damn Good Penny Picks – Penny Stock Buzz, Beat Penny Stocks and Penny Stock Newsletters, to name a few. This time they received $15 thousand for their services.

The company also tried to keep investors excited by publishing a new PR on Wednesday in which PSID announced that they had filed an additional patent for the Firefly Dx real-time PCR (polymerase chain reaction) pathogen detection system. On the following day an entity called the Daily Stock Reporter published a rather optimistic PR in which one of the featured companies was PSID. If you go to the disclaimer posted on the official page of EGM FIRM INC, the owner of the Daily Stock Reporter, you will see that they were paid $25 thousand for the period between March 17 and March 19 in order to disseminate information about the company. On the same page you can also find the sentence “We only publish favorable information because we are compensated to only publish favorable information”.

Despite all the artificial hype PSID’s chart performance remained rather depressing for most of the week. On Friday, however, the stock finally moved in the right direction. Investors shifted the record for the past 5 months number of nearly 18 million shares and pushed the ticker 17.6% up the chart. Although the outcome of the session was positive it should be noted that the stock closed at $0.03 below its opening price of $0.315. It remains to be seen if the company will manage to hold on to these gains without the help of the pumpers.

Even if the promotion comes to an end the risks around PSID shouldn’t be underestimated. In our previous article we already talked about the lackluster financials and the dilution of the common stock. It is true that the products of the company sound promising but it is always for the best to do your own due diligence before committing to any trades. 

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