IC Places (OTC: ICPA), a multimedia entertainment company based in Winter Park, Florida, saw its stock rise by 1.4% today, gaining $0.0002 from yesterday, and closing at $0.0142. It opened this morning at $0.015. In the past 52 weeks, the stock price has been as low as $0.0008 and as high as $0.29. Most recently, the highest stock price was recorded at $0.0528 on June 7, 2012.
The stock made a huge gain in volume today, however. It surpassed its average stock volume of 12,430,460 shares by more than 120%, closing with 28,442,301 shares traded. IC Places’ lowest stock volume this month was 1,833,393 shares. At its higher points, the volume reached nearly 58 million shares on May 2, 2012. What’s even more impressive is that nearly 129 million shares were traded on January 13, 2012.
On June 15, 2012, IC Places signed an agreement to acquire Punch Television Networks. The agreement includes re-broadcast rights, licensing, current advertising contracts and rights to the network’s current shows. The deal is expected to finalize next week. The merger of IC Places, known as a new media company, and Punch TV is expected to be exciting, as it has been a while since new media and traditional media have merged. IC Places is expected to receive up to $15 million in advertising contracts.
IC Places is known for its entertainment content. Mainly a network of 350 entertainment websites, IC Places also produces made-for-TV video programs. The company reaches more than 300 million people each month, giving it one of the largest distributions in the world. IC Places shows can be seen in stores such as Albertson’s, Fresh Market, Pathmark, Walmart, Costco and Sam’s Club. They can also be seen in restaurants such as Arby’s, Wendy’s, Carl’s Jr., Taco Bell, McDonald’s and Denny’s. IC Places also airs weekly shows in major cities, including Bakersfield, Detroit, Tampa, Orlando, Birmingham and Indianapolis. Their newly-acquired Punch TV network will air in 50 million households starting in September 2012.
In May 2012, IC Places announced its partnership with booking agency AthletePromotions.com. The agency would provide IC Places users with access to book public figures such as athletes, speakers, celebrities, actors, musicians, comedians and chefs. The agreement allows IC Places to receive a percentage of each booking it secures. The company hopes that the editorial articles posted on the company’s websites will generate interest and therefore increase revenue.
IC Places’ stock was heavily promoted in stock newsletters last summer and was considered one of the biggest-moving penny stocks. It also created some buzz earlier this month with its consistently high volumes. In the past six months, the volumes have been above 1.8 million shares. In addition, the stock prices had exceeded $0.04 for four days straight.
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