Yesterday one of the pump jobs we covered was Premier Holdings Corp. (OTC:PRHL). We hope the people who read yesterday’s article stayed away, because what followed was nothing short of a disaster for those who decided to play the pump.
PRHL plummeted 36% down on about 1.3 million shares.
Today we noticed something which is a really rare occurrence. The pumper newsletters which touted PRHL have sent out emails trying to apologize for the colossal failure. Not something you can see every day, although an apology hardly makes up for money lost, especially since, as we pointed out, this was not the first time the promoters failed. PRHL just joined ITNS, TFLX and a bunch of other costly pumps.
We pointed out that there is a significant danger involved with PRHL. A dump was a distinct possibility, and it happened.[BANNER]
What happened after we had published the article only made things look more suspicious. PRHL issued another one of its optimistic press releases. It followed the pattern outlined in the previous article – positive, but vague on details.
The timing of the press release raises some other questions. How did the people behind the pump campaign decide to go with the pump that exact day? Did they know the company was going to issue the press release?[BANNER]
Additionally, didn’t PRHL know there was a pump campaign? Did they try to fuel it on purpose, or was it just a coincidence?
It will be interesting to see whether Mr. Donovan will care to provide shareholders with some information on the matter. Such a dreadful 36% dive deserves some attention from the management of PRHL.
At $0.55 per share the market cap of PRHL is down to approximately $25 million. This may still be an inadequate valuation. Mr. Donovan may want to address that too, since PRHL has provided the public with little more than a bunch of positive press releases.
