America Resources Exploration Inc (OTCBB:AREN) Gets Demolished
America Resources Exploration Inc (OTCBB:AREN) crashed 30.10% yesterday, as the inexplicable force that was pushing it up finally gave out.
One look at the ticker’s most recent series of jumps up the charts may well deceive investors that the company has been the target of a successful paid pump campaign. However, the truth of the matter is, in fact, much stranger than that.
This recent burst of activity that exploded AREN in both price per share and daily dollar volume in the last few sessions can’t be attributed to any of the usual suspects, responsible for blowing dubious OTC Markets penny stocks out of proportion. The company does not appear to have any paid pumps, relevant PR, new filings or big social media campaigns touting its stock.
Moreover, it does not appear to have anything else going for it, either:
- Cash & Total Assets – $6 thousand
- Total liabilities – $6 thousand
- No Revenues
- Net loss – $29 thousand
These numbers, as bad as they are, are the best that AREN‘s latest financial report can show. Its other parts show the company in an even more unfavorable light, if that is at all possible.
And, as difficult as that may sound, AREN has some even bigger and more alarming red flags sticking out of it. For instance, the fact that the company sold a million shares of its common stock at $0.15 a pop just a few short weeks ago.
Seeing as how that is the shape AREN is in, the only real question in this situation is – why did the fall took so long to happen?
Well, perhaps that’s not precisely the case. There is one other relevant question that could be asked here – how low can AREN fall, now that it is finally headed down hard?
