Microcap stock Astrotech ($ASTC) today put out a press release stating they had won a contract with the Department of Homeland Security. Upon further detailed reading it turns out one of their partners actually won the contract and ASTC was just a subcontractor for them. This is a typical pump job Press Release = Be confident and keep shorting this pig even if you get squeezed by long microcap chasers.
That's exactly what we did: Shorted on the way up and covered this turd on the way down. It also helped us that ASTC financials were weak: only had $1M in revenues and -$16M EBIDTA last year and the company was valued at over $60M today. Pump job pr's are the easiest short trade setups. You just need some patience for the stock to slow death and have a large bankroll if you need to keep adding to the position. Join the MookTrader stock chatroom to learn how to spot these trade setups.
Net Profit: $4,272