In last trading session, the stock price of Preston Corp (OTCMKTS:PSNP) declined 0.21 % to close the day at $0.470. The decline came at a share volume of 3.98 million compared to average share volume of 145,151. However, the stock managed to retain a large part of its gains that it registered on Friday.
The buzz
The massive gains that Preston registered on Friday can largely be attributed to the latest series of promotional campaigns revolving the stock. What is confusing about the current scenario is that it was last pre-weekend round of promotional mails that finally fetched the investors’ attention. In all ways, this recent promotional was more or less dead before PennyStockDream intensified their efforts.
The initial failure could probably be justified with the relatively low compensation paid for pump. It is aptly said that the reward depends on investment. However, the old quote is not apt when it comes to the stock value of the firms on the OTC Marketplace.
The performance
Preston Corp market capitalization at the end of Monday’s trading was $40.07 million. It seems to be a bit aggravated, particularly considering the last reported financials of the company. As per the last released report, the company posted cash of $4,000. The current assets were no more than $66, which actually indicates where Preston is moving.
Preston reported total current liabilities of $139,000, a figure that is too big against the total assets of $66 recorded in the given period. To the disappointment of investors, the company has reported $0 in revenue so far. The net loss in the reported period amounted to $21,000. There is not a single factor that supports any up move in PSNP stock. The company is fortunate to not to have massive toxic convertibles to its name. Considering the red flags, investors need to follow due diligence before dealing with Preston stock.
