Another Green Session for AVRA Inc (OTCMKTS:AVRN)
With AVRA Inc (OTCMKTS:AVRN), the pumpers showed us that they can really be innovative and clever when it comes to promoting less than perfect penny stocks and then covering their tracks. As we’ll establish in a minute, they can also be relatively successful. Before we get to the current promotion, however, let’s take a look at the previous campaigns and see how they went.
The stock first popped up on the radar in April when OTCBB Journal as well as a few other newsletters started sending out alerts through the email. No less than $153 thousand was splashed out on the pump, which suggested that we’re in for an interesting campaign, but unfortunately, that wasn’t quite the case.
AVRN did log one or two exciting sessions, but on the whole, the volumes remained negligible and the stock didn’t perform too well. It briefly broke through the $0.50 mark, but it quickly became apparent that staying there won’t be possible. It tumbled downhill and, slowly but surely, it slid down to just over $0.10.
The pumpers saw that AVRN isn’t really reacting to an email pump, but they were still eager to promote the stock. In an interesting and never before seen move, they decided that they’ll use the WhatsApp messaging service. Hours before Friday’s opening bell, people started complaining about unsolicited touts being sent through the popular instant messaging application which, surprisingly or not, created quite a backlash. Numerous articles appeared on websites of all shapes and sizes and their authors all warned investors that trusting an unwanted message on a mobile application with your money isn’t your best bet.
This spoiled the fun for the pumpers somewhat. News about the WhatsApp promotion spread around pretty quickly and it affected the stock which, thanks to the artificial hype, was soaring well above the $1 per share mark. In a matter of mere minutes, it tumbled back down to around $0.20 and it proceeded to close the week at $0.19 per share.
AVRN‘s pump continued to be a hot topic throughout the weekend as well. Speculation was plentiful. Some investors were saying that the ticker might be suspended by the regulatory organs because of what is basically a spam pump campaign. Others reckoned that the SEC and FINRA aren’t going to be too bothered about the promotion. Few thought, however, that AVRN is about to make another jump in the right direction.
Yet, that’s exactly what it did. The regulatory organs remained silent and despite the bearish articles and the inevitable Wolf of Wall Street comparisons, people bought AVRN and pushed it another 23% up. When the closing bell rang, the ticker stood at $0.235 and the dollar volume amounted to about $840 thousand.
So, AVRN surprised quite a lot of people yesterday, and, who knows, if the pumpers continue sending their promotional texts, it might continue to do so in the coming sessions. Then again, the regulatory organs might actually decide to do something about the blatant pump. Even if they don’t (which won’t really be a surprise), the stock’s future doesn’t look good.
Most of the articles covering the WhatsApp pump talked about AVRN‘s appalling financials. Some of them even mentioned the headquarters which, in case you haven’t checked, looks like this. None of them, however, talks about the 26 million free trading shares that were acquired at a massive discount a few years ago. We, on the other hand, discussed them way back in April.
