Foodfest International 2000 Inc (OTCMKTS:FDFT) Pump Goes Nowhere

Yesterday Foodfest International 2000 Inc (OTCMKTS:FDFT) was pumped by quite a few paid pump newsletters. Still, the market performance was hardly impressive.

As I suggested in my previous article, the pump did bring volume. As a matter of fact FDFT did get a new volume high with more than 10 million shares traded. I was also right about the gap up and the descent that followed as FDFT opened at a cent per share but ultimately closed down 12.5% at $0.007.

The company made an effort to aid the pump by issuing a press release, but it wasn’t anything exciting. FDFT announced that would take part in cleaning and restoration services industry convention in early September.

The newsletters used in the pump were: Psycho Penny Stocks, Marquee Penny Stocks, BreakingBulls.com, StockBomb, Penny Stock Locks, Stock Rock and Roll, and Stock Lock and Load.

FDFT didn’t fare any better than their previous picks, at least when retail traders are concerned. The record volume did allow those who held shares from before the pump to dump some of them.

Unless FDFT manages to come up with some significant, solid development, it’s unlikely it will see volumes like the one from yesterday. Keeping in mind that this was the second round of pump emails, a third one isn’t likely to do any better without news on the business side.