Refill Energy, Inc. (OTCMKTS:REFG) Picks Up Volume, Drops Further
Yesterday the stock of Refill Energy, Inc. (OTCMKTS:REFG) slumped by nearly 15% to a close of precisely $0.40 per share. Share volume ramped up significantly and was double that of Monday, which in turn was already far above the average.
The price movement is more or less in line with the erratic behavior of the ticker over the last few weeks. Great climbs were followed by great slides that saw REFG quadruple and then slide halfway down form its new highs.
The company recently changed its name and while the ticker symbol has not been changed yet, REFG is now publishing its press releases as Medical Cannabis Payment Solutions. It seems a little unlikely that the new line of business the company has chosen was the only trigger for increased investor interest. Traders on discussion boards previously mentioned an ongoing radio advertisement campaign for the company.
Additionally, there is at least one promotional page for the company on a website that looks very much like a pumping outfit, which also mentions receiving monetary compensation for coverage in its disclaimer. Factoring in the 10 million shares convertible note holders obtained for $0.001 per share in March this year (described under Item 4 in this filing), traders following OTC pump jobs should be able to paint their own picture and do the math on their own.
On the bright side, REFG‘s website is now fully operational and it boasts the item of interest from the company’s latest press release – Ghost. It’s a ‘mobile solution’ and marketing tool for medical marijuana dispensaries that ‘can be made available’ through the two major mobile app portals of Apple and Google. The website offers no screenshots of the app itself.
There are also rumors in circulation that REFG is being warmed up through unusual channels for a proper pump job by a bigger outfit. Even though this is purely speculation, it will not come as too much of a surprise should it happen, considering how poorly the latest picks of the big promoters are faring.
Pacific Clean Water Technologies, Inc. (OTCMKTS:PCWT), the new pick of both Awesome Penny Stocks and Victory Mark, is not doing too well, logging a second red day in a row, one full week into the pump, even if it dropped by just 1%.