Bison Petroleum Corp. (OTCMKTS:BISN) Recovers After The Disastrous Crash
After suffering a drop of nearly 70 cents in just two sessions we thought that the pumpers touting the stock of Bison Petroleum Corp. (OTCMKTS:BISN) might give up and move on to find their next targets. But yesterday we once again received an email alert which means that the $500 thousand promotion is still going on.
On Monday the stock opened at $1.46 but sank as low as $0.81 just hours after trading began. Despite the horrible performance at closing time it managed to claw its way back to $1.05 which seems to be the support line for the ticker. Since then the stock is making a comeback and is currently sitting at $1.34. Traders are continuing to show great interest in the company with 300 thousand shares changing hands yesterday, more than tripling the average of 79 thousand shares.
The latest tout came from a different newsletter – TraderTv, but its contents were exactly the same as the previous one. Both emails featured a shortened version of the landing page created by the Oil Stock Journal for the company. In it they assign a short term price target of $4.97 per share to a company that according to its last financial report has total assets of $30 thousand. The other financials for the quarter ending July 31 were:
- $36 thousand total liabilities
- ZERO revenues
- $339 thousand net loss
In June TraderTv touted the stock of National Graphite Corp.(OTCMKTS:NGRC). Back then investors were promised that if they put $2000 in NGRC in just a few month’s time they will receive $132 thousand. Well, 5 months later the stock has fallen from 15 cents per share to a little more than 3 cents per share or that initial investMENT will now have crumbled down to $400.
That only goes to show that doing your own research and never taking what the pumpers are saying at face value are paramount when dealing with pennystocks. At the moment another oil and gas exploration company – New Western Energy Corp (OTCMKTS:NWTR) is also being actively pumped. The stock is continuing to climb higher despite the considerably lesser compensation of $15 000 disclosed by the promoters.
