Bison Petroleum Corp. (OTCMKTS:BISN) Goes Through a Freak Trading Session
Yesterday Bison Petroleum Corp. (OTCMKTS:BISN) suddenly popped up on traders’ radars after spending ten straight sessions without moving a single share. The ticker traded nearly 400 thousand shares on Monday and closed 15% up.
The session was anything but uneventful. BISN started climbing right out of the gate, then after gaining nearly 20%, dropped dramatically below its previous close, slipping as low as $0.89, then managed to climb back to its $1.21 close. The sudden volume spike after a full month with just 5 sessions with any volume at all seems to be attributable to a Townhall Spotlight promotional email. Traders on discussion boards reported receiving the email that compared BISN to NYSE-listed oil company Marathon Oil (NYSE:MRO).
However, what separates Marathon Oil from BISN is several decades of experience, $3.8 billion in quarterly revenues and a share price gap of about 35 dollars. The most current quarterly of BISN lists the following figures:
- $30 thousand in cash comprising total assets
- ZERO revenues since inception
- $339 thousand in quarterly net loss
The email reportedly further hinted that it’s possible for Marathon Oil to acquire BISN because the company has oil and gas leases in the state of Wyoming – a major production site for Marathon. This would be approximately the same as a McDonald’s restaurant rushing to acquire a hot dog stand simply because it’s located a hundred feet away from their building.
To make matters worse, Townhall have previously been involved with stock promoter Tobin Smith who got his contract with Fox News severed because of his involvement in paid stock promos. Mr. Smith has touted other stocks before and his picks did not exactly perform as outlined in his promos. The movement of one stock he touted with interruptions for months on end – Petrosonic Energy, Inc. (OTCMKTS:PSON) is visible on the chart.
With all that in mind, traders eyeing BISN may want to be extra careful before they make their move.
