Explosive End of The Week for SK3 Group, Inc. (OTCMKTS:SKTO)
SK3 Group, Inc. (OTCMKTS:SKTO) recorded very impressive results in the end of last week after a long period of sliding down the charts. The main “responsibility” for the explosive sessions that marked the end of the week is held by the optimistic press releases that the company made.
The first press release that came from SKTO in Thursday was the reason for the day’s huge jump that took place in the end of the session and announced that the company has obtained the exclusive license for DharmanolTM for the State of California. It helped the ticker register a hefty 86% gain as SKTO closed the session going from $0.0036 to $0.0069.
The volume of traded stock also increased and a whopping 20 million shares were traded for less than an hour. This is nearly 4 times SKTO‘s average, but the small price per share helped generate only $110 thousand in dollar volume.
The next day started with a dumping fiasco, which quieted down before noon. At first, the stock’s price started moving in the same angle at which it closed the previous day and reached as high as $0.0117 per share.
The heavy dumping of stock, however, pushed it down and SKTO managed to close the session with a 43% gain at $0.0099 and a massive 55 million traded shares, that helped generate a trade value of $554 thousand.
In Friday SKTO made another press release, this time concerning the filing of the company’s Q3 report, which is scheduled to be available by the end of this month. The press release also announced a conference call and some milestones that SKTO have put for themselves.
This week is also starting good for the ticker as it has already registered another 38% gain in price, currently being priced at $0.0137 with more than 24 million traded shares. If the trend continues SKTO might register one of the highest dollar volumes for the Monday session.
Many may say that the low price of the stock would allow it to continue to go up, however, with a current gain of 270% a serious correction might end up sour for some investors. This is the reason for which we would advise you to do your due diligence and weigh out the risks.
On the other hand Medical Marijuana, Inc. (OTCMKTS:MJNA) is still doing small percentile movements, hovering around $0.15 per share. The situation with Cannabis Science, Inc. (OTCMKTS:CBIS)’s stock isn’t rosy at all and its stock is currently at $0.040.
