February 05, 2013 at 11:21 AM EST
The Pump Goes On and On for iMing Corp (PINK:IMNG)
After splashing out about $500 thousand on paid pumps in support of iMing Corp (PINK:IMNG) yesterday, promoters seem to have started taking things easier considering the less than stellar market performance of the stock during yesterday's market session. Indeed, IMNG shares barely gained 5% yesterday as the bell brought the session to a close. Albeit positive, this move was barely what the myriad of promoters had expected to trigger in the light of the massive promotional budget they were given in the first place. While some pumpers seem to have stepped out, new ones are constantly coming in, which is why we are now seeing a handful of promoters that were nowhere to be seen yesterday such as Wall Street Buzz, OTC Stock Exchange and 007 Stock Chat. Besides the new names trying to give a fresh start to an already exhausted pump job, there is also a considerable reduction in the budget, too. Today's compensation range between $3,000 and $30,000 while the rewards paid yesterday went as high as $290 thousand. We are yet to see whether this will make any difference in the market performance of the stock by the end of the day. An hour and a half into the current session, the promotion seems to be proving a tad more successful than yesterday. IMNG shares have already cracked the $1.00 threshold and are currently being quoted at $1.02 per share and have so far shifted a total of 336 thousand shares, 28% as compared to the volume generated yesterday.[BANNER] Nevertheless, we would rather stay away from this pump job as a lot of investors have had to learn the hard way the most solid promo-related principle, namely: what goes up must fall down the moment all the interested parties have got rid of their shares. Should you still feel not convinced about that, check out the historical promo picks of the Stock Publisher , the Wall Street Buzz , 007 Stock Chat and OTC Stock Exchange to see it for yourselves.
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