ENDEXX CORP (OTCMKTS:EDXC) Struggling to Keep Level
The charts of Endexx Corp (OTCMKTS:EDXC) are not something a serious investor would like. They are filled with long red candles that are accompanying the short-lived jumps in their stock price.
This movement is repeating itself rather too ofter, however, the last 2 days made a difference. In the May 30 trade session while their stock price was at somewhat of a peak they registered an all time high in volume.
Back then they opened at $0.1915 and their peak was $0.199. While they have an average volume of 900 thousand shares they traded in a mind-boggling 9 million on that day that came at a total trade value of $1.4 million, which crashed their stock to $0.127.
In the following day their stock fell further down to $0.1195, but now they are rising yet again. Today they opened at $0.121 and have currently risen to $0.129. While the massive dumping has passed and things are getting calmer with their stock price on the rise again, this might be just the quiet before the storm.
It is so obvious that they are relying solely on paid promotions and press releases to pump their stock price that we don’t even know if their press releases are worth reading. However, being the curious people that we are we took a look at them and again we proved ourselves right.
Let’s not go that much into detail and just say that the emails from May 29 and May 30 are basically saying the same, but with different words. One of the press releases even contains a link to an audio interview with the company’s CEO Todd Davis.
When we heard that name we kind of squinted our eyes while trying to find out if that was the same Todd Davis, who was involved in the LifeLock scam. Fear not, we are not talking about the same guy. The information that we found out, however, was more disturbing. It turns out that the Todd Davis who is CEO of EDXC is the president of Rayne Forecast Inc, a company which is involved in direct consulting of CEO’s and PR companies that want to improve their stock’s price movement. This basically means that he can be called a “pump teacher”. From there you can start making guesses on how honest their press releases are.
Before you make the decision be sure to do your due diligence and weigh out the risks, because after all the company is run by a man who knows how to manipulate stock prices and we can just guess if he is doing that with EDXC for his profit.