Stock Manipulation on PBM, Day trading giving false hope... Becareful
Good morning to some and early morning to the many, today PBM has tanked big time from (-69%) $15.30 all the way down to $3.78 bouncing back up to $6.16 but falling back down to $4.95 with roughly 15% of today’s volume with in 75mins.
Short Summary: B.C. rejects copper and gold mine proposal on concerns over salmon.
Link HERE: just google it
I just want to speak on my honest opinion about PBM before anyone thinks about investing but for most people gamble their money away isn’t ethical. I’ve notice that this company alone has been trading only 800-1500 shares a day on average but slowly has been increase the price of this stock with just a few hundred bucks which is bad and today was its highest volume to date. When it comes to investing I always look at the fundamentals in the stock and if it’s a good one to invest in and so far looking back 3years of news, I feel there is something fishy going on with this stock. I would not touch this stock until the company updates investors. Keep in mind this stock trades on an ave of 800-1500 shares a day so most likely all long term investors has cashed out and has taken their lost and moved on. The pattern that I saw today with PBM was pretty interesting. A lot of fake supporting bids and many people bidding over thinking that it’s support but for most cases it’s a play to help their friends get a good price to short. The fake support bid now gets off the bid and wait the price to drop and then cover, I honestly see this stock holding at least $4.15 and a lot of people at the ASK trying to get the best price possible. I see this stock dipping within the first 2hr and slowing going up Like most small, middle cap stocks that take a large dip, there will most day traders flipping the stock and giving hope for people that are still in the stock wishing for a turn around. For the past 16months PBM has been trying to get approve from the B.C government to allow PBM to start mining in the tons of rare metal such as copper and gold. In the meantime PBM has not been slowly gaining revenue by not fast enough for investors to stick around with this stock. One of the major problems with this stock is the small float this company has, like I said earlier this stock can move quickly with a few thousands but tank faster with a few hundreds. I’ve notice that and will have to stand in the sidelines on this one or not touching it at all. Using Fibonacci retracement from PBM peak to its lowest. Use $4.90 as a stop loss and see for the first 15mins where this stock is going before getting into any position. If it holds over $5.85 then but if it’s still below that wait for it.