On Friday, PPWE jumped 10% up and closed at $0.022 for a share on a trading volume of about 127,000 shares, which was much less than the average. Given the diminishing volume effects that the promotions have on PPWE stock, it looks like now the promoter should be happy even with a break up above the 3 cents level that was marked after the company issued its latest press release around ten days ago.
This month only, 71 promoters have sent promotional e-mails to traders. Cash compensation has been given as zero, but some of the promoters state to have received 1,000,000 free trading shares of PPWE, which however, they probably did not have by now much of opportunities to dump on the market for a solid profit.
Together with the promotions, the other things the company is trying to keep traders’ attention with these days include an intended joint venture for its Western U.S. Operations, and a private placement memorandum with two independent investors. The last event has been announced on the day on which PPWE reached the above mentioned 3 cents resistance. According to the press release, the company is said to raise $10 million from each of the unknown “independent financing groups”.
The PR sounded like it was promising to traders the first oil-and gas revenues for the company this year, but as the movement of PPWE share price would suggest, the prospects have not been perceived as so bright by the market.
