How hot or cold can a stock get from a research report created by a non-registered, small cap equity research firm? Traders probably pondered that question a bit during the trading session today. This morning, 2nd Opinion Stock Research out of New Orleans, Louisiana, initiated coverage on Pristine Solutions (OTC: PRTN). Judging from the action in the stock today, it appears the deep thinking put both buyers and sellers asleep.
The stock had one of its most lackluster days since traders began actively exchanging shares on August 24, 2012. The opening trade of the session today at $0.41 also doubled as the high for the day. The stock showed little movement throughout the day as it literally traded in a 2-penny range. The intraday low came after traders had digested their lunches when they exchanged shares for $0.39. The stock ended the day close to where it finished the day before at $.40. Like a runner on a treadmill, the stock may not have moved in price, but the stock still traded at a brisk pace even though volume lagged behind the daily average. When the closing bell rang, over 3.2 million shares had exchanged hands compared to an average of 20 million seen on a normal day.
After the market closed this afternoon, Pristine Solutions announced its subsidiary, Eaton Scientific, had entered into a consulting agreement with Dr. Jennifer Berman. According to the agreement, Dr. Berman will provide insight to the menopause, perimenopause, and premenopause treatment marketplace. She will also be a spokesperson for the company’s Tropine 3 product for the treatment of “hot flashes”.
On Monday, Pristine Solutions (OTC: PRTN) said it plans to develop a transdermal patch delivery system for Tropine 3. The patent-pending treatment is a non-hormonal product used to relieve the menopause symptom of “hot flashes”. The company expects the organizing of clinical studies to be completed in the next few weeks.
Traders look like they could use a transdermal patch as they have shown a wide range of buy and sell emotions since the stock debuted. The stock has traded in a range from $0.53 to $0.15 in the few short weeks since it has appeared on the scene. On the very first day of trading, the stock had an intraday low and high almost equal to the year-to date range, which is enough to give any trader a “hot flash”. Traders will look forward to the weekend where they can organize their thoughts about the recent news on Pristine Solutions.
Several promoters have touted the company over the last few weeks. Last Monday OTCPicks.com said the following: “Pristine Solutions, Inc. (OTCBB: PRTN) is pleased to announce that it has completed the Protocol for the Clinical Trial for Tropine 3…” A full list of newsletter activity can be read on Stockreads.com. Several promoters made comments today that can be found on Stockpromoters.com. Among those saying something about the company was Penny Stocks Expert, who made this note: “PRTN will likely become our biggest pick this year once and if the FDA approval for Tropamine 3 is announced.”