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ProElite’s stock crashes back to Earth

After jumping from $2.50 per share to $8.00 a share on Friday, ProElite’s stock (PELE.PK) fell $5.25 from $8.00 to $2.75 per share on Monday. The volume for the day was just 3,000 shares, making it likely that just one investor sold his or her shares in the company.

In other company-related news, according to ProElite’s 8-K extension request submitted to the Securities Exchange Committee, the company will be filing its second quarter report today. We’ll have more details once the report becomes available.

12 COMMENTS
  • Caleb Newby says:

    Forget ProElite, I’m worried about Apple! And more importantly, where the heck is Silicon Alley?

    ;)

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  • Warren Buffett says:

    ProElite’s stock isn’t news. No volume means one trade sets the price. Their stock price is not an indicator of anything about their business at this time. Why are you reporting it like it’s news? Cover some news about ProElite like how stacked is their next card going to be because they canceled the recent show? How are the working dynamics between Champion and Lappen and are they better than DeLuca and Shaw? How are they doing with signing big sponsors for the next CBS show? How hot is Gina Carano looking right now? Now that’s news.

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  • Nate says:

    I kind of agree with Warren, but I also feel anything having to do with the companies, affects the industry and thus I want to hear it.

    It is really misleading to have ipod sales picture in there. I guess you were hurting for a pic & that was the first you got.

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  • Sam Caplan says:

    I’m not sure what to make of the sudden rash of nit-picking regarding this site. Constructive criticism is always welcomed but these pot shots are getting out of hand. From this point forward, if your comment does not advance the story and offers no value, then it will be deleted. We’re not going to operate an open complaint forum where every post we do gets critqued. We want these comment threads to contain substance. These who repeatedly post but fail to add anything of value to a thread will be banned from the site. I don’t have time to moderate every single comment.

    This was deemed newsworthy because when the stock jumped on Friday, many people speculated about the reasons why. The fact that the stock gave back almost all of its gains is noteworthy. Sorry if you don’t agree but as I’ve said before, it’s impossible to have every single post meet the seal of approval of every individual reader. What you deem not to be newsworthy might be news to someone else. As I state frequently — if you don’t like it, don’t read it.

    It clearly states under the sales picture that it is not a ProElite stock chart. I needed an image to illustrate the drop. No one is hurting here.

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  • Evan says:

    Sam

    If you want to use stock quotes go to the specific stock page on yahoo and look to the right side where it says “Add Quotes to Your Web Site” and it will give readers a deatailed graph of the actual quote.

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  • Sam Caplan says:

    Evan, that is what I call constructive. Thank you.

    Agree or Disagree: Thumb up 0 Thumb down 0

  • Evan says:

    You’re welcome.

    You have to play with the application a bit to get it to work right but I think it will give you what your looking for. If not I believe cnnmoney has something as well.

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  • Caleb Newby says:

    I actually liked the graph. Just like I enjoy the judge picture we get for legal news stories of some actor who I forget the name of. It’s humorous and fun and has personality.

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  • el boxeo says:

    hey sam

    this pro elite stock episode going up 50% and then down 50% has happened like 7 times… it even happend before their first cbs show..

    it will happen again on the run up to the next cbs card…

    if you go to Fool.com and read the comments you will see that this is an ongoing thing…

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  • fightfan says:

    up 50% and down 50% , by the way, is $2.50 to $3.75 and vice versa……since you all want to bash the hell out of sam for making a simple post

    $2.50 jump to $8.00 is over a 300% increase and therefore 300% decrease back down to $2.50

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  • el boxeo says:

    to fight fan

    stocks and all that percentages stuff are weird imo.. but ive seen that stock drop and rise from 7.50 to 3.75 and vise versa quite a few number of times… which to me is a 50% drop and rise…

    i think in this case the stock going up or down is not indicative of the company.. the fact that they are losing money or have never made money is more accurate rep. of where the company stands…not the dead cat bounce the stock gets from 1 person buying a certain amount of stock….

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  • el boxeo says:

    i kinda dont know why sam even got upset..

    i mean warren buffet pretty much summed up why it wasnt news and sam came back with possible deletion of posts if they “does not advance the story and offers no value”…. how does somebody that evidently knows more about the stock market than sam does not advance the story with his post…

    it wasnt as if he said anything expletive or their post didnt come in with some knowledge…

    the fact that one person trading (3k shares) means that the only person who should care about this news was that person who bought those stocks and sold it….

    its a pretty big story that this company’s shares are trading in the penny stocks ( which pretty much means destruction) but going up or down 50% or 300% dont matter to anybody but that idiot who bought shares on fri and then sold them today for the same amount…. lol

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