Shareholders in the penny stock of Punchline Resources Ltd. (PUNL) have not only been “Donkey Punched”, but they’ve put in a barrel and rolled off a cliff. From the people who brought out Independence Energy and took them to over $4.70 in June, PUNL stock is getting beat like a read-headed step child on the OTC playground today. Other than acquiring additional land at the Empress Project in Nevada, the only thing that could be crushing this precious gem is short selling.
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PUNL Stock Chart
Market Cap: 24.00M
Last: 0.48, down -1.07 (-69.03%)
Volume: 2,014,851
Dollar Volume: $1,943,210
High: 1.58
Low: 0.45
Trades: 601
Average Trade Size: 3,352
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Whiskey Tango Foxtrot! All they did was announce the strategic land acquisition which consists of 31 new mineral claims staked contiguous to the 9 original and 18 newer claims that made up the Empress Project. Even though the acquisition might have more than doubled Punchline’s land holdings at Empress to 58 total claims or 1,160 acres, their market capitalization is now less than half, nearly half of a half, what is was after Monday’s close.
If you’re not tickled pink about today’s trading action since lunch, imagine how you would feel if you were one of those who on September 12, 2012, was issued 168,068 shares of PUNL stock at a price of $1.19 per share, pursuant to the closing of a private placement, for gross proceeds of approximately $200,000. Hope you have Vaseline.
About PUNL Stock
Punchline Resources Ltd. is an emerging mineral resources company focused on both domestic and international exploration and development projects. Two months ago they were focused on punching back coin operated video machines that were strategically placed into bars for men, or women, with hair on their chests.
Bottom Line: PUNL shows that you can’t keep a good penny stock up when the short crew joins forces to cripple a mountain climber. Keep PUNL stock on your list of penny stocks to watch., Like ZERO, today is just a blip on the screen for this one.
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