In the newest penny stocks to watch, I have chosen Options media group holdings (OPMG) that is supported by adolescent celeb Justin Bieber who make famous the group product Drive Safe anti-texting even though driving edgeware usage suite.
Once the news was released, OPMG share selling price went up from 1 cents to 4 cents per share. This might additionally be due to the truth that Justin has shared the news on his facebook account with 27 million followers who proceeded to go on to distribute the information more.
Nevertheless, according to Timothy Sykes, the #1 dealer on covestor, he believes that OPMG is an exciting penny stocks to watch because it appears prefer yet another pump and dump penny stock because it has over 50 financings in 24 weeks with just $97,000 in cash and deficits of $10 million dollars.
In the SEC filings for options media group holdings on 16 May, Justin Bieber was given “121,160,749 shares of common stock at $0.01 per share or a total of 16.4% of the Manufacturer“, and additionally which includes royalties for every single piece of software the manufacturer sold. Although the product has been available for sometime, it has been crafting deficits as noted in the SEC filings.
So the current surge in OPMG give price tag can additionally be due to penny stock promoter at joenoelstocks.com, which in accordance to Timothy Sykes, that Emerging Progress Research, LLC was due to 4 hundreds of thousands of OPMG shares in their disclaimer.
As it is easy to check from the financial statement, OPMG is about to go straight down prior to Justin Biber and with a lot financings carried out previously, it will be very difficult for the inventory selling price to shoot up additional because many insiders using shares to retail should utilize this stellar chance to take again their cash.
Using annual deficits of $10 million and items which possess not proven itself, will you make investments in options media group holdings which is looking to access $5 million to stay operational?
Once again, this could be a great penny stocks to watch since it is still possible to generate cash from OPMG, but do not maintain it long, look for breakout especially if popular stock promoter buzz points up. Do check out how Timothy Sykes makes income regardless if the penny stock is going up or down.