Agrieuro Corp (OTCBB:EURI) Bursts Out of Sub-Dollar Land

Agrieuro Corp (OTCBB:EURI) went through a truly amazing session yesterday. It opened the day with a small gap up at just over $0.94 and it started running immediately. A few hours later, an intraday high of an absolutely astonishing $2 per share was reached, and although it became clear very quickly that these sort of levels can not be sustained, the ticker still managed to finish the day at $1.10 – a hefty 23% above Monday’s close.

You probably know this already, but it’s still worth repeating. The whole run is caused by what is possibly the biggest and most blatant pump campaign we’ve seen over the last few months. Leading the charge are newsletters like Finest Penny Stocks, Smart Stock Choices, Best American Stocks as well as a few others and they’re backed by a budget that seems to be growing on a daily basis. According to our database it now amounts to a whopping $580 thousand.

Despite the scale of the promotion and despite the fact that it seems to be causing quite an outcry around the social networks and message boards, neither the SEC nor FINRA seem to have taken notice of it. The OTC Markets, however, have.

Yesterday, EURI‘s company profile was stamped with a buyer beware sign which is supposed to warn investors that they might be throwing their money at a promoted company that has:

• $13 thousand in cash
• $188 thousand in current assets
• more than $1.8 million in current liabilities
• quarterly revenues of around $151 thousand
• a quarterly net loss of $40 thousand

Of course, the same company will also tell you that they want to build the biggest resort on the Black Sea. In fact, they said that they expect to do just that in a press release on Monday. Then again, they expected to sell 250 thousand bundles of reed at €1.60 per bundle during Q3, but in reality, they only sold 99 thousand bundles at €1.30 per bundle.

Of course, this doesn’t mean that profiting from EURI is impossible. The pumpers are having a field day and the lack of regulatory intervention is making their lives incredibly easy. The stock has already been through a few rather remarkable jumps and it is showing no signs of slowing down. About twenty minutes after today’s opening bell, EURI is a further 27% in the green at $1.40 per share.

Nevertheless, the stock is still extremely risky. We’ve been talking about the 84 million shares that saw the light of day for a little over $20 thousand last year and we’ve been trying to warn you that if those hit the open market, the results will be quite simply catastrophic. Thanks to the pump, the volumes have been absolutely massive, but even so, the mysterious people who bought the discounted stock might still have some left lying around. Make sure you bear this in mind before you reach for your wallet.