There are truly two types of people in this world; those that love karaoke and those that abhor it. Not unlike country music. While this may seem like a grandiose statement, gross generalization, or just irresponsible prejudice, there really is not much of a middle ground. When you take a moment to examine both your thoughts on the matter and those of the people you know, this is difficult to argue. A large percentage of the population has a friend or two whom, without fail, when queried for their opinion on a night out suggest karaoke. Ironically, a good portion of this group who loves to sing in public is near tone deaf. It makes a tremendous amount of sense that those with the voice of an angel and an extroverted nature would long for a night of Mai Tais and a microphone in the basement of an Asian bar. Conversely, there are a number of people that just won’t try something new, or are unwilling to listen to the wailing of a drunken businessman singing his favorite Carly Simon song.
No matter which side you are on, it is difficult to ignore the 25% stock gain that was realized today by Global Karaoke Network (OTC: GKNI). Global Karaoke is the world’s first fully integrated singing/wailing/crooning social network. It delivers an opportunity for amateurs and professionals alike to share their voices with the planet. In late May 2012, the company announced that it had reached an agreement with GT Entertainment (GTE) to become the sole licensee to offer its online karaoke network at MeAndMic.com. Through this arrangement, Global plans to offer its hybrid of live venue competitions matched with the addition of online entries from people who will compete in singing competitions worldwide. Its library of songs is cross-generational, international and, in theory, fun.
There was little news of note regarding Global that caused its rise today, nor were there any big pushes by stock promoters. That said, the Twittersphere saw The Stock Garage, Penny Stock Zoo, The Market Maker, and a guy named “Tom” give their Twitter-truncated approval. Global Karaoke closed Tuesday’s trading at $0.10 before opening today at $0.11. At 10:30, the stock seemingly grabbed the microphone and began singing Elton John’s “Rocket Man” and briefly saw $0.17 before returning to earth on the heels of Roseanne Barr’s rendition of “The Star Spangled Banner.” Karaoke truly has its highs and lows based on the next act. All said and done, Global Karaoke had a huge day closing at $0.14, up 25.1% with well over a million shares traded. This represents an increase of 1000% on its average daily trading volume over the last three months.
Say what you will about karaoke in general. It is considerably easier to log on and share your voice with the world than it is to convince your friends to join you for a night out where they are pressured to sing, or are all too eager to taint the ears of those in the room when they break into a fondly remembered rendition of Glen Campbell’s “Rhinestone Cowboy.” That is where Global Karaoke will make its mark.
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