iTalk Inc (OTCBB:TALK) Failing to `Breakout`
Despite the pumpers’ efforts and the many fluff press releases by iTalk Inc. (OTCBB:TALK), the price of the stock has dropped about 15% in the last five sessions.
Yesterday the group pumping TALK sent emails claiming the “upward breakout will be strong given the evidence.” Instead, TALK lost 3.08%, closing down at $0.755 per share. The volume almost reached 700 thousand.
The newsletters used to tout TALK includes:
- Traders Insight
- Dividend Seeker
- National Traders Association
- Investors Alliance
The “evidence” given by the newsletters is mostly interpretations of technical indicators, and an optimistic look at TALK‘s app. A quick search in the App Store will show that the app in question is free, it was released on June 3 and there are no customer reviews, nor are there enough ratings to display an average.
The same group of newsletters was behind the pump job on Green Innovations Ltd. (OTCBB:GNIN). It was promoted earlier this year and reached a high above $2 per share in February. Now that same stock is trading around $0.46.
I have described how insider enrichment schemes work in a previous article on TALK. Another stock which is popular right now and exhibits the characteristics is Biozoom Inc (OTCBB:BIZM).
While such stocks may provide opportunities for experienced pump players to make a profit, the novice traders can lose a lot of money, and ultimately the people who make the most are the people behind the whole set up.
