Yesterday, Stadium Entertainment Holdings, Inc. (PINK:SEHI) got a new volume high after a paid advertisement report was published.
SEHI opened with a significant gap up, and although the price went down after that it managed to close up 10.53% at $0.063. The volume reached staggering 7.6 million shares.
All the fuss seems to be over a report published by Grass Roots Research and Distribution, Inc. The company was paid $7.5 thousand for the advertisement effort.
The sum was paid by a third party, but SEHI saw fit to issue a press release about the paid report. Apparently, SEHI was “proud to announce” the coverage, although some may think a third party paying for an advertisement is not a good reason to be proud, especially when talking about penny stocks.
The latest financial report of SEHI isn’t something inspiring either. As of December 31, 2011 the company reported:
- $810 in cash and $129,934 total current assets
- $4,289,160 total current liabilities
- $44,504 revenue for the quarter
- $149,935 net loss for the quarter
Today SEHI has opened up, but the company will need to do a lot better on the business side if it is to ever come close to the $0.44 price target from the advertisement.
