America Resources Exploration Inc (OTCBB:AREN) Pumped Further Up
Tracking the promotion for America Resources Exploration Inc (OTCBB:AREN) hasn’t been easy. Usually, when the third parties try to organize a large-scale pump, they use one of the active newsletters and they sometimes garnish the email alerts with landing pages or paper mailer brochures.
With AREN, however, they decided to use some of the less prominent newsletters like Smart Stock Choices, Stock Tip Magazine, and Best American Stocks. Prominent or not, the pump is working.
It started last week and thanks to a couple of rather impressive green sessions, the stock found itself greeting the weekend at over $0.30 per share. Monday was a bit slow, but yesterday, the ticker really picked up some speed. More than 2.8 million shares changed hands in a matter of six and a half hours and after a 21% jump, AREN closed the day at $0.41. About ten minutes after today’s opening bell, it’s another two cents up which, it must be said, is partly due to a press release which came out after yesterday’s close. It says that the company is going to rework some of their leases which should increase field production.
So, willingly or not, the company is helping, but it must be said that the pumpers are also doing their job well and they seem to be pretty happy about themselves. And they’re not done yet. They’re now saying that this might be your last chance to buy AREN at bargain prices and they’re seriously suggesting that you should do that. But should you really?
The thing is, while there’s no denying their skill when it comes to writing emails with excessive uses of capital letters, the pumpers don’t seem to excel at researching the companies they recommend. They won’t tell you, for example, that at the end of March, AREN had less than $6 thousand in assets. They won’t tell you that the virtual office that AREN use once served as the corporate headquarters of Chimera Energy Corp (OTCMKTS:CHMR) – one of the shadier penny stocks out there.
Last but by no means least, the promoters won’t tell you that less than a year ago, some lucky investors had the chance to get 35.4 million shares (a little less than a third of the total O/S count) for just over $20 thousand. They also won’t tell you that these lucky investors could be eager to offload their discounted stock on the open market.
We, on the other hand, have been talking about this since last week and we’ve been telling you that considering all the risks before putting any money on the line is essential. The warning still stands.
