Gapping open 900% like only a Psycho play could do, the penny stock of Proguard Acquisition Corp (PGRD) burst the percentage gain dam, shooting up 9,400% from Tuesday’s close. Subject of a 1:30 reverse stock split back on March 12, 2013, PGRD stock cost some traders as much as a -65.79% loss after the PPS avalanched down to a level where the early traders would have been better off copying the pattern of prior Psycho pumps. Yet, since the share structure is so remarkably prime for a company who is kinda the photo copy supply type of the 21st century, perhaps this one doesn’t get shredded on day 2 like most of his others do.
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PGRD Stock Quote
Market Cap: 2.81M
Last: 0.65 ▲ +0.63 (+3,150.00%)
Dollar Volume: $208,708
Issued and Outstanding: 4,320,603
14-Day Rel Strength: 36.43%
1st Resistance Point: Seriously?
1st Support Level: 0.020
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Proguard Acquisition Corp. was a shell company with no business operations until May of last year when they closed a deal for a reverse merger with Random Source Inc. Now, selling office supplies to medium and large-sized businesses through its retail websites, Proguard had something within its publicly traded entity, but it was never meant to hit the pumps.
Reminding anyone who is over the age of 35 of the old Saturday Night Live skit of the “making copies” guy, Progaurd Acquisiton actually put some solid, yet declining, numbers up for being in a dinosaur industry.
For the 3 and 6 months ended June 30, 2013, Net sales declined to $2.77 million and $5.69 million, respectively, as compared to $3.91 million and $7.93 million, respectively, for the same periods in 2012. With declining sales, comes declining profits as gross profit for the 6 months ended declined to $742,990 versus $918,575 for the same period the year prior, about $242,000 short of covering all of Progaurd Aquisition’s operating expenses.
Needless to say, buyers bottomed out as quickly as today’s pump on PGRD stock did (as can be seen on the chart above). With Psycho calling this his long pick and claiming to be in a 5,450 share position at 0.02, he will surely be thanking all the buyers today who helped him make as much as around $10,000 on his approximately $600 investment.
Way to bang your list into bags there Psycho.
About PGRD Stock
Proguard Acquisition Corp., through its wholly-owned subsidiaries Random Source, Inc., Lamfis, Inc. (dba Hinson Office Supply), and Superwarehouse Business Products, Inc., sells office supplies to medium and large-sized businesses through its retail websites.
Click here to view the SEC filings for PGRD.
Click here to view the website for Random Source.
Last 5 Trading Sessions:
The clarity of Psycho owning 5,450 shares at 0.11 per share would cause the smartest of traders to avoid getting paper cuts from PGRD. Nevertheless, while PGRD stock was one of the hot penny stocks today for about 57 seconds, another gap, peak, avalanche, and flat-line session is all she wrote for what is becoming the “minute-man” of the OTC.
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