Eyes on the Go, Inc. (PINK:AXCG) had a good promotion-fueled performance. The company also issued a press release which may have helped.
Initially AXCG shot up 100%, but after the hype dissipated it pulled back and eventually closed up 58.33% at $0.095 on a little over 2 million shares.
Actual Investments, LLC paid $35 thousand to a promoter for a one-day pump of AXCG. Those who got in early had no chance of breaking even.[BANNER]
The other factor for yesterday’s performance was the press release. In it AXCG stated it had entered into a partnership agreement with Tremor Video. AXCG will use Tremor Video’s technology on its website, gander.tv.
Supposedly, the partnership will allow AXCG to monetize the videos delivered on the gander.tv website. Right now it seems the site is in its beta version and features a number of low quality videos from different entertainment venues.
The long term fate of AXCG will largely depend on the business performance of the gander.tv website. So far traders don’t have much to go on when valuating AXCG, and it seems yesterday’s results were mostly due to the paid pump effort, although pumped companies rarely manage to keep a hyped up price level for a whole session.
