On Friday Power3 Medical Products, Inc. (OTC:PWRM) managed a positive close, but it was not enough to offset the price drop which followed PWRM’s latest promotion.
PWRM was promoted on Dec. 19, and the promotional effort brought quite a lot of volume and a price increase. That, however didn’t last long as the very next day PWRM tanked, and in the next few sessions it actually dropped below pre-promotional levels.
Friday’s trip to the $0.0048 close constituted a 17.07% increase on a volume of 2.39 million shares. There is no obvious reason for the market performance of PWRM, but it should be noted that a 17% move either way is not really a big thing for an illiquid sub-penny.[BANNER]
PWRM is still a development stage company, and as such its financial state isn’t particularly impressive. Keeping that in mind, the plummet after the promotion was to be expected.
Where PWRM goes from here is not clear, but at the same time it’s not a strikingly curious question, either.
