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Micro-Cap on the Move; IC Places Inc. (ICPA)

By Warren Paige

Shares of IC Places Inc. (PINK: ICPA), a company engaged in the ownership and operation of a network of city-based websites for travelers and local individuals, are soaring in trading today.

At last check, ICPA shares were trading 16.20% higher at $0.0165 on volume of 5.54 million. Despite today’s gains, the stock is down 25% in the last three trading sessions.

IC Places last month announced the signing of a Letter of Intent to acquire Punch Television Networks. As per the terms of the agreement, ICPA will acquire all the assets of Punch TV Network, which includes all Television Station licenses, re-broadcast agreements, rights to all television shows on its roster and all current advertising contracts. The deal is expected to close this week.

On completion of the transaction, Punch TV President Joseph Collins will join ICPA as CEO and sit as joint Chairman of ICPA Board.

 

July 2nd, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.