A Serious Correction for SK3 Group, Inc. (OTCMKTS:SKTO)

The stock of SK3 Group, Inc. (OTCMKTS:SKTO) made a very good 3 day run in the OTC Markets in which it gained a whopping 286% in value. Yesterday’s session, however, didn’t go as well as the previous ones and the ticker lost a quarter of its value.

After the strong run it had in the last 2 days of the past week and the decent start of this week the stock of SKTO was destined for a correction. Just like we predicted in one of our previous articles, the amazingly fast climb coupled with the huge amounts of traded stock made the situation unfold very fast.

Even though SKTO traded in much lower volumes than the days before, the stock descended the charts. After the initial dumping in the beginning of the session the ticker reached as low as $0.0101, but managed to recover to around $0.14 per share.

Trading quieted down, but despite the fewer traded shares the stock continued to descend and closed 24.48% down at $0.108. A total amount of 27 million shares switched hands in the session and helped generate a healthy $344 thousand in dollar volume.

Apart from the fast gain in price and the huge amounts of traded stock LQMT’s momentum was destined to be shattered because the company didn’t keep the fire burning with new optimistic press releases. If the management manages to come up with some optimistic news there is a possibility for a comeback, but it doesn’t seem viable.

All hopes for the stock of SKTO are for decent results in the quarterly report that they said they will upload by the end of the month. Before that time comes be sure to do a lot of due diligence and weigh out the risks if you have any thoughts of betting on them.

One of the big winners yesterday was Biozone Pharmaceuticals, Inc. (OTCBB:BZNE) who climbed 36%, but aren’t faring that well today. Among the other tickers that generated decent gains was Sigma Labs, Inc. (OTCMKTS:SGLB) who jumped 19% in a decent volume.