Agrieuro Corp. (OTCBB:EURI) Gets Demolished Despite New Pump Emails
The pump for the stock of Agrieuro. (OTCBB:EURI) is still active and the four newsletters that are carrying the promotion are still sending more and more email alerts. Before the start of yesterday’s trading they encouraged investors to jump right into EURI stating that this might be the stock’s “awakening” and that it could be “an amazing buy”.
Unfortunately for all those who decided to listen to the words of the pumpers EURI‘s performance left very little opportunities for any gains. The company dropped straight for the bottom of the chart right from the opening bell and from an opening price of $0.85 crashed all the way down to a close at $0.625 for a loss of more than 30%.
The promotion for EURI has been going on for a while now and the artificial hype did manage to push the company to a high of $2.09 per share on November 27. Since then, however, the stock has been rapidly obliterating its pump-induced gains and currently it is sitting more than 70% lower. With compensations ranging from $100 thousand to $200 thousand the pump outfits might not be giving up any time soon and indeed early in the morning today Best American Stocks issued yet another email alert.
When dealing with promoted pennystocks it is usually a good idea to ask yourselves the question – “Who is benefiting the most from the increased attention towards the stock?” In EURI‘s case it might be the people who paid just $20 thousand for 2.1 million shares a few years back. Thanks to the 40-for-1 forward split that EURI effected this September those people now owned 84 million shares that could be unleashed on the open market for enormous gains.
Even if you disregard the risks associated with the paid pump EURI still remains an extremely dangerous choice. The company is in a depressing financial state that simply cannot support the current market cap of $160 million. Not to mention that EURI‘s OTCMarkets page now carries the skull and crossbones warning sign.
EURI must be approached with caution and any trades involving their stock should be attempted only after doing thorough due diligence.
