China Teletech Holding Inc (PINK:CNCT) Losing Ground Fast

China Teletech Holding Inc (PINK:CNCT) may be dead in the water, as the pumpers are through with it.

Yesterday CNCT opened at $0.152 and even though it managed to close at $0.19 per share, that was still down 11.63%. The volume also went down reaching 11.2 million shares.

The Stock Psycho hasn’t mailed on CNCT since Monday. The company itself has been silent since December, and its annual financial report hasn’t been filed yet.

That’s an added problem with uncompensated pumps. The company isn’t involved and it doesn’t issue hype press releases to sustain the artificially inflated price.

Even with CNCT dropping, it still provided a wider opportunity for pump players to make a profit than the paid pumps of the Stock Psycho. Primco Management, Inc. (OTC:PMCM), the previous paid pump of the Focus Media outfit, crashed the day after the promotion and it’s still down about 80%.

What’s left for those who got in and failed to get out, is to watch as CNCT price and volume fade away, and hope for some miracle to bring interest to the stock. Alternatively, they can take their losses and walk away with a lesson learned.