SPMI Shows “Psycho”tic SpeedEmissions Of Intraday Gains

In its usual fashion, if you owned shares in Speedemissions Inc. (SPMI) penny stock before today and planned to sell them before 9:33am, you probably did well. Once again we see the pattern where SPMI stock broke out the gate, spiking to 0.0384, a gain of 326.67% from the open, before the speedy descent of momentum to flatten out just like all the other penny stock alerts have done.

If this pattern continues, perhaps the name should be changed from Psycho to Haberdahser.

Looking for Hot Penny Stocks? Click here and get Alerts on the Best Penny Stocks FREE.

SPMI Stock Chart

a/o March 31, 2012
Authorized Shares: 250,000,000
Shares Outstanding: 34,688,166

20 Day Percent Change: -21.74%
20 Day Moving Average: 0.0106
20 Day Average Volume: 18,745

It’s sad to see that a company with such a small number of outstanding shares and revenues of $1,921,005 for the three months ended March 31, 2012 is subjected to such a crushing blow having already traded today more than volume than it has the last 3 months combined. So where did the shares come from you ask?

On June 8, 2012, the Company entered into a new revolving line of credit loan agreement with TCA Global Credit Master Fund, LP, which opened up a $2,000,000 piggy bank. The Loan Agreement replaces an existing revolving line of credit loan agreement with Regions Bank in the amount of $100,000. That’s one heck of a jump in credit. With a $350,000 withdrawal immediately on June 8, 2012, this is likely the portal to the enormous share volume being traded today. (see here)

About SPMI Stock

Speedemissions, Inc. is one of the largest test-only emissions testing and safety inspection companies in the United States. The Company performs vehicle emissions testing and safety inspections in certain cities in which vehicle emissions testing is mandated by the U.S. Environmental Protection Agency. As of March 23, 2012, the Company operated 38 vehicle emissions testing and safety inspection stations under the trade names of Speedemissions, Mr. Sticker and Just Emissions as well as four mobile testing units in the Atlanta, Georgia area which service automotive dealerships and local government agencies.

Using computerized emissions testing and safety inspections equipment that test vehicles for compliance with vehicle emissions and safety standards, the Company’s revenues are mainly generated from the test or inspection fee charged to the registered owner of the vehicle.

Bottom Line: Typical Tuesday for the penny stock alerts of the psycho as SPMI will flatten out for the day and close somewhere near, or below, the open.   Kinda of ironic how a company named Speedemissions can prove the speed of a stock fart: makes a loud noise, stinks to high heaven in the first few seconds, but with a bit of hand waving and a cool breeze, fades away to be nothing more than a story to tell friends about and nothing to show for it.

Here is your opportunity to subscribe to the Most Exclusive Penny Stock newsletter.




Sign up with your email address now & get ready to make BIG PROFITS on Hot Penny Stocks

(We are 100% Anti-Spam and will never rent or sell your information)

Last updated by at .

0
  Recent Penny Stock News