Premier Holding Corporation (OTC: PRHL), a provider of financial and management expertise, saw its stock drop by $0.31 today. The company’s stock closed at $0.86 yesterday, opened this morning at $1.09, rose up to $1.12 and dropped down to as low as $0.45 before closing at $0.55. The company saw a 52-week low of $0.05 nearly a year ago, on July 13, 2011. The company saw another low of $0.40 for several days in April 2012 before the price jumped to $0.75 on April 25, 2012. The price peaked at $1.50 on June 6, 2012, and experienced a few peaks and valleys until June 28, 2012. The closing stock price on that day was $1.28 and has been dropping ever since.
Despite the drop, Premier did experience a record-high volume. The company’s average daily volume is 31,851 but more than 1.3 million shares were traded today, which is the company’s 52-week high. Yesterday’s volume was just under 48,000 shares. The next-highest volume came on October 18, 2011, when more than 403,000 shares were traded.
Premier operates two subsidiaries: WEPOWER Ecolutions, and Premier Commonwealth. Premier provides expertise regarding mergers, acquisitions, management strategies and joint ventures to its subsidiaries. WEPOWER Ecolutions is an energy company that provides clean energy products and services to commercial markets and developers. The core service is green technology, which includes solar power, wind turbines, smart active controls and fuel reduction technologies.
Premier’s downward stock spiral comes at a time when the company is expanding its business. The company just announced today that it entered a Letter of Intent (LOI) with Skybridge Solar. Under the agreement, Premier would acquire between 30% and 45% of equity in Skybridge. Skybridge, a solar power plant developer, currently has four projects in the early stages that could potentially generate revenue of $1 billion within three years.
So why all the highs and lows? Many experts believe the high in June was due to the company’s self-promotion. It issued many press releases during that time. It is believed that the price then dropped due to the announcement on June 25, 2012 that the company had sold common stock to investors. The investors received 2.3 million shares of stock for $572,500, or a price of $0.25 per share.
Despite continuing to drop, Premier was promoted today as one of the top three small cap stocks to watch. Seems as if stock experts are predicting the company will get out of the dumps and rise back up to the top in the near future. Tomorrow’s trading session will determine if Premier will continue to drop, or if its stock price will post an increase for the first time this month.
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