WOW… PNCH is on a run ! PNCH closed up almost 13% at .0070, on over 7-million shares traded. This is a good thing ! Although some are saying its a little too fast… we don’t believe so.
Of course, as we posted last night, the message boards are lit up with all kinds of opinions and rhetoric about the increase in PPS. Some say the stock is now due for a correction, while others say this IS the correction. Although corrections are customarily thought of as downward, we agree that this is the rare correction upward. Just about everyone but the bashers believed PNCH was undervalued as sub-penny, and is therefore simply moving toward its true value now. Where will the PPS go from here… who knows, we certainly don’t. Of course there will be some profit taking along the way, but we think the general trend will continue up into the release of the K and Q reports later this month.
There was an incident today that deserves some attention. Late this afternoon Steve Samblis, CEO, posted a response over on LieHub – that was deleted ! Steve was responding to a basher’s contention that the outstanding shares have been steadily increasing to an amount in the neighborhood of 1.8 billion (up from 1.2 billion as of the last quarterly report). Steve responded point blank that this was not true… and LieHub deleted the post (and as of this writing, has not been reinstated). Steve’s post was short, truthful, and on point, and gave them NO reason to delete it, but they did. We will let you judge for yourself why this deletion happened. That action was simply shameful in our opinion, and yet but one more reason drastic changes need to be made over there for that board to have a shred of creditability.
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