Goff Corp (OTC:GOFF) Is Far from the Bottom

Contrary to what the pumpers claim, Goff Corp (OTC:GOFF) is very far from the bottom. It may bounce in the coming days, but ultimately the bottom is still way off.

Yesterday, GOFF closed lost another 24.17% and closed at $0.273 per share on 47 million shares. That’s the lowest close since the GOFF pump started on Mar. 18.

I mentioned in some of my previous articles that the involvement of Victory Mark (VM) in the pump job on GOFF may have a negative effect on its longevity. Apart from being the third day in roll GOFF closed in the red, yesterday was also the third day since VM stopped touting the stock.

The company may have helped trigger the dumping too. After the close on Friday, GOFF announced it had reached an agreement to acquire more leases. Then yesterday before the open, the company stated it had entered an LOI to acquire a third project in Colombia.

As a colleague of mine pointed out, those claims are very suspicious seeing as how GOFF had $5 thousand to account for all their assets according to the latest financial report, and they haven’t announced any financing. Traders are free to decide what the chances are of someone parting with a property which may hold gold for nothing.

There is still a chance GOFF could see a bounce in the coming days. VM jumped ship, but Awesome Penny Stocks (APS) are still mailing on GOFF. That may prove insufficient, and even if GOFF were to bounce, the chances of getting to previous highs are very slim.

As for the bottom, there is no telling how low GOFF can go. The limit for the OTC in general is $0.0001 per share. Previous APS pump jobs have dropped below a penny in time, and the most recent APS pump – Swingplane Ventures, Inc. (OTC:SWVI) had a couple of bounces after the first big crash, but it’s currently trading around $0.06, down about 94% from the high.