“So You Think You Can Sing?” Shares of the karaoke machine developer and distributor, The Singing Machine Company Inc. (SMDM), had nothing to sing about after 9:33AM. It is becoming more and more evident that in order to make money off pennystockalerts, you need to own the stock before 9:29AM and sell before 9:33AM. SMDM stock burst out the gate like a Psycho and within seconds, crashed down to almost flat-line as the Darth Trader attempted to redeem himself after Life Design Station International (LDSI) turned him into Darth Maul.
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SMDM Stock Chart – Friday
Market Cap: 6.07M
Avg Vol (3 month): 12,097
Avg Vol (10 day): 1,222
Shares Outstanding: 37.96M
Friday’s trading facts: SMDM opened at 0.2369 after closing at 0.1199 on Thursday. The penny stock made it to as high as 0.3949 before the sound of the opening bell could stop ringing and wound up closing at 0.16 after 1,530,702 shares were traded.
It really is beginning to become a broken record. It seems that every single time the stock jumps either 200%, 400% or even 2,000% on the open, crashes back down to around 100% within 2 minutes, and then trades flat from there, tanking soon after, normally the next trading session.
I am pretty sure that pennystockalerts and Darth Trader was whom they had in mind when they created this tribute: Click to hear.
About SMDM Stock
The Singing Machine Company develops and distributes a full line of consumer-oriented karaoke machines and music under The Singing Machine™ and SoundX™ brand names. The first to provide karaoke systems for home entertainment in the United States, The Singing Machine sells its products in North America and Europe. The Singing Machine is also the first to offer digital music downloads for play on home karaoke machines.
Bottom Line: We know penny stocks and we know that anything coming from the once “king” of volume is gonna be a fight against Darth Maul in the Temple of Losses. Better luck next time when the “NEXT” Revenue Redemption Alert comes out because SMDM was like a bad lounge act in a cockaroach infested diner outside of Vegas.
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