Yesterday nearly 12 million shares of Hi Score Corp. (PINK:HSCO) changed hands, and today’s performance may be influenced by a paid promotion.
A promoter, operating a number of newsletters has been compensated $25 thousand for a one day profile of HSCO. The disclosed third party is Creme Consulting, LLC.
The reason for the high turnover of shares yesterday was probably the news announced by the company. Initially, the price also took off and at one point it reached $0.019, but by the end of the session it retreated to the eventual close at $0.0125 for a 4.17% increase.[BANNER]
HSCO issued two press releases. The first one said DMD Lighting (DMD), an affiliate of HSCO, had received a contract for more than $100 thousand. The second one stated Green LED Technologies would be getting six figure orders too.
DMD used to be a subsidiary of HSCO too, but earlier this year the company sold it, retaining 25% of the profits for the next three years. Neither of the the press releases gives an exact number for the size of the contract, but the second one reveals the orders for Green LED will be coming from DMD.
The potential effect of the promotion is hard to predict. Yesterday’s session showed that the vague information provided by the press releases isn’t convincing enough to keep the price much higher. On the other hand, promotions following news often result in significant price spikes, even if they don’t usually last more than 20 minutes.
