The much anticipated email alerts of SMA’s new pick were released midday and it could possibly be the worst penny stock ever: Psychic Friends Network Inc. (OTC:PFNI). Whether the crystal ball had a crack in it or what, the mere fact that the Company is trying, according to PR from over a month ago, to reestablish itself as the psychic network for Hollywood stars is delirious. For what its worth, PFNI stock is seeing an unheard amount of volume on this #2Flusher that hasn’t been able to break $2K in revenues in the last 5 years. Perhaps the new version isn’t as good at getting that sing-a-long going at the end like they used to in the 90′s when you were stoned and fell asleep with the TV on.
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PFNI Stock Chart
Market Cap: 34.72M
Last: 0.41, up 0.06 (17.14%)
Dollar Volume: $7,170,658
Average Trade Size: 18,137
Issued and Outstanding: 83,656,667
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Investor Insight didn’t take long to announce that it initiated coverage on Psychic Friends Network Inc. with a $2.55 target price on PFNI stock, commenting that “the upside potential is sizable,” with the outstanding marketing and distribution pipelines available to the firm offering huge membership growth potential. If this psychic network was the “real deal,” then you would have thought that some massive buying would have occurred prior to today’s stock alerts by the Stock Market Authority.
All in all, Psychic Friends Network is a 5 year old start up with a few failed attempts at cheap awareness campaigns in the past. With revenues of less just $1,434 since they began in 2007, none of which were derived from 2011 or 2012 operations as of June 30, 2012, this is a momo play for the record books. Surely, the name recognition is going to light up the boards when the hard mailers eventually hit mailboxes around the country.
Based on previous SMA plays though, PFNI is a must have on the watch lists. As pathetic as Santo Mining Corp. was, SANP stock still provided multiple opportunities to step in for more than reasonable double-digit gains. Prior to that, their Independence Energy (IDNG) pick in the early summer offered over 200% gains before IDNG stock split and traders lost their shirts. With the percentage gains today being controlled, unlike those from PBCW yesterday and SVEN last week, PFNI stock is looking sexier than a fat pig with lipstick wearing roller skates and a bikini to a Dodgers spring training game.
About PFNI Stock
Psychic Friends Network, Inc., formerly known as Web Wizard, Inc., is a remake and relaunch of the 90′s version which aired on televisions around the United States prior to the remote control’s evolution and popularity into the mainstream living rooms of America. The Company website is www.psychicfriendsnetwork.com. Click here to view the SEC filings for PFNI, here to view the website.
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Bottom Line: PFNI, together with SVEN, NGRC and PBCW, should be at the top of your penny stocks to watch list for the next week. Based on prior trends with SMA picks, PFNI stock should see $1 easily within the next week plus where as SVEN stock and PBCW stock would be lucky to see anything over 0.50 in that same period. With just one more group set to announce on Thursday, the table should be full for all traders to make back some of what they lost on all the fake out alerts from the summer.
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