June 27, 2013: Today we look at the now 2 month old Pump & Dump ongoing for Domark International, Inc. (DOMK), its third campaign in the last nine months.
A look at the trading summaries (click here) compiled from the daily trading reports created by The Nightly, shows that this stock is in the midst of a sideways Pump & Dump, i.e. it is going nowhere, and it is in no hurry to get there.
DOMK's destiny has been set in stone, however, as a large chunk of the over 40 million shares which are outstanding, are owned by financier Asher Enterprises, Inc., an entity well-known for its propensity to hire promoters to jack up the volume and price of otherwise worthless shares, so that it can can dump its own stock at over-inflated prices. When you also consider that there are almost 10 million free-trading Form S-8 shares out there also waiting to be deposited in the hands of future bag holders, the company has no assets and no business activity to be speak of, things don't look rosy for the future share price of this one.
This one will only go sideways for as long as a few buyers are willing to overpay. Then expect a massive dump of shares, and with it, the share price.