What a let down it was to wait for all the hype of needing to provide a phone number to simply find out that Dragon Polymers Inc. (DRAG) might buy a screen. The stinky pinky that’s been a failed beverage company, a failed urban/gospel christian music fan company, a failed art holdings company, a failed heart health focused company, a failed energy bar company and is now a nylon and plastics recycling company effected a 30-for-1 stock split back in April, 2012. As far as DRAG stock is concerned, its not only ironically named for where it will likely take your portfolio, but it’s efforts to increase revenues by 15% is an embarrassment considering what revenues are.
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DRAG Stock Chart
Market Cap: 947.85K
Close: 0.0165 ▼ -0.0013 (-7.30%)
Dollar Volume: $2,021
Average Trade Size: 27,600
Issued and Outstanding: 49,367,314
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The 4:03PM PR issued by Dragon Polymers (see here) states that they are currently studying the feasibility of purchasing a 20 foot vibrating screen used in the iron ore mining industry to help reduce the impurities such as soil and rock mixed in with the Nylon 66 fiber. The possible effect of the study could be increases in revenue by 15% per container. Considering the Company booked $36,000 in revenues for the nine months ended August 31, 2012, the fluff would have been better off issued in French, forcing the use of Google translator so it wasn’t so pathetic.
The effect will be an increase in volume traded since very few penny stock traders are Research Driven Investors when it comes down to the numbers. All they care about is the direction and price of the stock. While the price may be right, the irony of the ticker symbol, DRAG, somewhat indicates where this pinky is headed on Thursday. Landfills might be a potential gold-mine of salvageable waste, but it’s more appropriately a location where this PR fluff should be.
About DRAG Stock
Dragon Polymers Inc., according to Super User, specializes in the mining of post-industrial plastic waste from landfills as a is reseller industrial polymers.
Last 5 Trading Sessions:
Bottom Line: DRAG is where this penny stock is likely to take your portfolio on Thursday if you’re out there jonesing for a play. Even upon the dip, DRAG stock is a risky venture to take on so close to the end of active trading for the year, especially when the crash test dummies are preparing to make their appearance with FARE.
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