Aristocrat Group Corp. (OTCMKTS:ASCC) Keeps Dropping, Posts More PR Hype
Yesterday’s session saw Aristocrat Group Corp. (OTCMKTS:ASCC) drop another 12% to a close of $0.24 per share, delivering about 60 loss to all who happened to buy the spike of the last pump for the stock. It’s starting to become painfully obvious that the stock is only able to move up when prodded along by paid promoter touts.
ASCC is no stranger to paid pumps. The company was targeted by organized pump campaigns three times in 2013, each providing a short-lived spike in price and then sending the stock much lower once the pumping ends. The latest swirl of pumps is exactly what sent ASCC on a huge volume and price binge in early June.
After doing its best to back it up with well-timed press releases, ASCC failed to sustain the price levels and the stock tanked about 60% from the pump high. The company posted another optimistic press release that was mostly a rehash of the previous hyped up PR, touting closed company tests conducted in focus groups that supposedly gave great results.
The announcement declares that once ASCC‘s super-fine top-quality ‘ultra-premium handcrafted’ vodka hopefully hits the shelves in August, it will compete in the same sector alongside established brand names such as Diageo’s Smirnoff and Beam’s Vox. We’re not entirely sure that competing with the products of businesses that trade on major markets at $100 per share is the best thing for the company, and working in the same sector as major players is a very different thing from being successful in this sector.
Apart from the PR optimism and excitement around the planned future launch of the vodka, it looks as though traders have very little to be excited about with ASCC as the company had $42 thousand in cash comprising its total assets and zero revenues since inception as of its last quarterly report.
Other stocks that tripped up and fell in yesterday’s session include ASCC CEO Robert Federowicz’s other company – Quantum International Corp. (OTCMKTS:QUAN), which dropped 15%, and recent huge pump Lot78, Inc. (OTCMKTS:LOTED) who lost 28% of their share price.
