MC Endeavors Inc. (PINK:MSMY) has recorded a rich history of promotions this year. There hasn’t been a single month without promotions in 2011 and there is no indication that this sequence is going to end.
To bolster their promotional back up even more, MSMY has just signed a contract with Virmmac LLC for a 180-day media awareness campaign. The promotion started on May 20 and will continue until November this year. The promoter was compensated 500 thousand restricted shares.
Today, shortly after midnight, the second newsletter from the campaign arrived by a website called Hotstockcafe.com. The newsletter will apparently try to bring more energy to the trade of MSMY. However, the first try of the same promoter on May 20 didn’t create too much of hype for the stock.
Last Friday, MSMY surprisingly pushed even further up the chart after it had almost entered a distribution phase after a brief and sharp expansion in the beginning of May. MSMY soared 28% to $0.102 on a heavy volume of 4 million shares, of which 1 million comprised of the short volume.
The forthcoming trading session will reveal to what extent investors believe the words of promoters and if there will be a following correction to the price surge. For now, it seems that traders didn’t get scared by the huge amount of additionally issued common shares revealed by the last 10-Q of the company.
Probably, investors will feel in safe waters until the shares are still restricted and remain aside from the public market.
