Following a wild trading session last Friday, supporters of Mike The Pike Productions (PINK:MIKP) are now ‘looking forward to some action’. Obviously, a surge of 175% is not big enough to satisfy hunters looking for the next five-ten bagger.
So, what happened during the last trading session that prompted an iHub poster to say that ‘if anyone’s gonna play MIKP now’s the time’? On the one hand, MIKP stock gained a staggering 175% within a couple of hours of trading, closing the session at a three-week high of $0.0055 per share. On the other hand, MIKP stock was subject to such a massive trade that 3.9 million shares changed hands, setting a six-month record. Not to mention that it is also more than 10 times bigger than the daily average trading volume.
What seems very surprising here is the fact that Friday’s jump did not follow any groundbreaking news. In fact, the latest PR, which surfaced last Wednesday, had a rather adverse impact on MIKP stock. What is more, MIKP is by no means among the most heavily promoted stocks in the recent past. Actually, third parties have not raised any awareness programs in support of MIKP stock for more than seven weeks now.
MIKP occupies the motion picture and video industry. It specializes in feature films, graphic novels, library assets and concert promotions. The company’s mid-term strategy is to create a physical studio system in the Midwest. Being an OTC Pink current information provider, MIKP filed a quarterly report for the period ended Mar. 31, 2011. As of that date, the company revealed:
- $12K in cash;
- negative net worth of $0.7 million;
- $28K in revenues and net income of $13.7 thousand.
So far, so good. However, investors should not forget that MIKP has so far only issued 110 million shares of common stock, which means that there are still 890 million common shares of A/S waiting to see the light of day.
