Clean Coal Technologies Inc. (OTCMKTS:CCTC) Crashes Horribly
Just as anticipated, Clean Coal Technologies Inc. (OTCMKTS:CCTC) lost a huge chunk of its market cap yesterday, falling hard on its face on a heavy dollar volume.
As we mentioned in our previous coverage on CCTC, just a single glance at the company’s circumstances determines that it doesn’t have anything that could realistically hold it up. The gains it made in the last two sessions were just too miraculous and the reasons behind them were just too obscure to allow CCTC to retain them.
That would have been the case even if we were dealing with a regularly reporting OTC Markets company. But we’re not, are we? No, rather, CCTC is a pinksheets company, whose OTC Markets profile page is stamped with a red warning sign, because it hasn’t filed a financial report since the one covering Q3 of 2014.
In spite of all the bold claims it keeps issuing, it doesn’t appear to have anything substantial going for it, no matter how hard one looks.
The lack of reports alone should have been enough of a hint for seasoned investors that something was awry, and case in point – CCTC‘s incredible jump went sour pretty quickly. Investors on the company’s discussion boards actually started yelling “Timber”, even before all the gains CCTC has made over the last few sessions started going up in smoke.
The only question now is – how low will CCTC fall, before investors lose all interest in it? Will it reach a quarter before this week’s final bell rings? It might just do that. After all, it is already 7% down in today’s trading.