iTalk Inc (OTCBB:TALK) Diving to New Lows

I little over two months after the hype around iTalk Inc (OTCBB:TALK) started building up, the stock is slowly but surely sinking deeper and deeper.

Yesterday TALK tanked another 20.56% on 1.6 million shares. The price at the close was a new low at $0.282 per share.

I first wrote about TALK on May 9, and tried to warn our readers it was likely a pump job by the same people who carried out the campaign on Green Innovations Ltd (OTCBB:GNIN) earlier this year.

There didn’t seem to be any single particular reason for yesterday’s crash. The company hasn’t filed anything for more than a month now. Back on Jun. 7 it filed an 8-K about the acquisition of the rights to My800online.com.

Investors Alliance and the other pumpers in the group have also been silent, since their email on Jun. 26.

TALK issued a press release on Jul. 1 about the launch of a new website and a remarketing campaign. The news was met with lot of selling and closed down about 30% on the day. The bounce on the following day was small and short-lived.

The financial report for the quarter ended May 31 is due next Monday. It should shed some light on what the company really has. It may cause some commotion, but a significant recovery is unlikely.