Amarium Technologies Inc. (OTCMKTS:AMMG) Takes Another Dive
If you are a regular visitor of our website, you know that Amarium Technologies Inc. (OTCMKTS:AMMG) were the target of a widespread stock promotion not that long ago. A few email alerts were distributed by Financial News Media but this was nothing compared to the touting done through the landing pages. An entity called Stock Tips received $25 thousand to create one and they paid an advertorial called Invests [dot] com $10 thousand to have it linked.
All the articles and landing pages are still alive and kicking and the one written by Invests [dot] come still states that Stock Tips, and their latest pick, AMMG, are bringing investors “thousands every day“. The chart from the last couple of months, however, suggests otherwise. Yes, during the first days of the pump AMMG did display an admirable performance. It even reached a 52-week high of $0.59 on September 12 but, unfortunately, it was clear that it won’t be able to stay there for too long.
A scary correction followed and although it tried to go back to its former glory, its ascend was cut short when five catastrophic sessions between September 27 and October 3 brought the ticker down by more than 64%. A horrific performance for a mineral exploration company, that, according to the press releases and advertisements, is making money, but then again, it’s hardly surprising considering the presence of the paid pumpers.
Still, it’s been a while since we’ve received any alerts and although the landing pages and articles are still up and running, we doubt that their influence is as strong as it was a month ago. This should, theoretically, mean that AMMG is now moving under its own steam, fueled only by the optimistic developments and not by the artificial hype created by people receiving thousands of dollars for coming up with far-fetched claims and promises of a bright future.
Unfortunately, the ticker is still refusing to sustain any sort of growth. The company’s latest press release is dated October 2 and according to it, AMMG‘s projections have been grossly underestimated and they are actually producing far more copper than anyone ever imagined. That’s definitely something you don’t hear every day and we expected to see the ticker flying high but it would appear that the pressure from the promoters (who were still going strong back then) proved to be too much. Instead of gaining ground, AMMG registered two of the most horrific sessions in its short trading history losing 17% and 46%, respectively.
The alerts then stopped and the ticker showed that it could actually move up. Three virtually flawless sessions followed and it seemed like AMMG might just be able to close in on the $0.40 per share mark once again. It hesitated a bit and the lack of any news wasn’t really helping with the price movement. Yesterday, however, something went horribly wrong and the ticker took a plunge. Six and a half hours of intense trading saw more than 650 thousand shares change hands and by the end of the day, AMMG had dropped to $0.30, 15% below last Friday’s close. Early trading today doesn’t appear to be all that positive either as around half an hour after the opening bell the ticker is another 6% down.
You are probably wondering what is causing the steep descend. After all, as we mentioned, AMMG‘s press release from October 2 should have been enough to propel the stock on a long run but for some reason or another, it’s failing to do so.
The reasons for this could be numerous. For one, the promotion might be still having an effect (as we mentioned, the landing pages are still online and are scaring less risk-prone investors away). Someone might also be offloading a considerable amount of stock on the open market (we’ve mentioned before that some mysterious entities have taken hold of a huge number of shares at tasty discounts). Or it just be the fact that people are no longer ready to trust their money with AMMG because of the horrific stock performance.
Whatever the reason, you should keep in mind that at yesterday’s close, the market cap stands at a mind-bending $149 million which could suggest that further drops are not impossible. Make sure you do your own due diligence and consider the risks carefully before jumping in. Being caught off-guard in a promoted penny stock is not uncommon and International Stem Cell Corp. (OTCMKTS:ISCO)’s performance from yesterday, we reckon, proves the point beyond a reasonable doubt.