WOW… PNCH down almost 40% today ! Looks like more than a few didn’t think the K was as great as Steve thought it was. Volume was over 3 times normal today, with over 27 million traded.
So, as we mentioned in an earlier post, a “sell the news” sell-off was expected, and with not much “buying the news” leading up to the K, that left the PPS to close at .0052. Now the good news here is… that is still higher than the months leading up to today. As you know, the PPs hovered around the .003 area for several months prior to today (excepting of course the occasional spike during that period).
Hopefully we see some sort of PR release shortly regarding the successful Upfront party. Perhaps something else might be released also… that would be great. Some sort of PR could help stabilize, and perhaps even increase the PPS in the short term.
If you have some time we thought this piece of video was interesting. While it showed the overall buzz surrounding the event, we would draw your attention to Joseph and Steve who show up at about the 2-minute mark. We found it interesting that of all the things they could have said during that short segment… Joseph made a point to highlight the fact that they are a public company now, and people could invest in the company by buying stock. This, we think, demonstrates Joseph and Steve’s awareness of their role in promoting the company as a viable investment. And, if you haven’t seen it yet, they promote the investment aspect of the company prominently in the PunchTV website. See that here.
So… we shall see what tomorrow holds. Hopefully today’s shakeout was simply a buying opportunity for those who… A) have some cash…and B) have the vision to see that PNCH is growing more everyday, and in due time will reward its investors handsomely.