USA Graphite Inc (OTC:USGT) on the Brink of a Brand New Low
Yesterday USA Graphite Inc (OTC:USGT) tied its lowest close just about a week after the pumpers of the Stock Castle group stopped mailing.
USGT closed down another 9.09% at 40 cents per share. The volume was just shy of 1.6 million shares.
This brings the loss from the high to a little under 60%, and as I said in my previous article, the crash isn’t over yet. At $0.40 the market valuation of USGT is above $60 million, and that is for a company which has $2,212 in total assets.
There may be a brief reprieve from this fall, or even a slight bounce along the way, but eventually USGT‘s valuation will have to get much closer to what the company actually has. This thing happens to all pump jobs sooner or later.
The previous stock touted by the same group of promoters was Premier Brands, Inc. (OTC:BRNDE). As you can see on the chart, it was pumped back in October 2012, and it’s now down more than 90%. BRNDE was also covered on hotstocked and we did warn you about it too.