Makism 3D Corp (OTCB:MDDD) Crashes Again, Officers Deny Affiliation with the Pump
What do you need to do if you want to destroy around 60% of a company’s value? Well, if Makism 3D Corp (OTCB:MDDD) is anything to go by, you will simply need to pay $2,750,000 to some stock promoters, raise awareness, and watch investors as they flock around the ticker. It would appear that the more interesting the business plan and the more discounted stock there is outstanding, the better. That said, the officers don’t really need to know about the whole thing and, apparently, in MDDD‘s case, they didn’t.
After the OTC Markets put a buyer beware badge on the company profile yesterday, the management team decided that it’s finally time to say a few words about the catastrophic stock performance from the last couple of days. About an hour before today’s opening bell MDDD‘s CEO, Mr. Luke Ruffell, issued a press release and said that before he woke up to a skulls and crossbones designation, he had no idea that his company has become the target of a multi-million dollar pump. The same goes for the rest of the management team.
Apparently, they deemed the absurd dollar volumes and the abnormally large activity a normal part of the first week of active trading. We’ll leave it up to you to decide whether you are willing to trust them or not, but it would appear that the majority of traders empathize with Mr. Ruffell and his colleagues.
As we predicted, the appearance of the buyer beware sign had a tremendous effect on yesterday’s trading and around noon, a vast number of investors hit the panic button. Either that, or someone offloaded a large amount of shares on the open market. When the closing bell rang, MDDD was standing at $0.44 or around 40% below Wednesday’s value. Yet, the first minutes of today’s session suggest that the press release issued by the management team has got traders buying again. Half an hour after the opening bell the stock is hovering above the $0.50 mark and seems to be going strong.
There’s no getting away from the fact, however, that MDDD has already burned some massive holes in quite a lot of people’s pockets. Even the investors who are used to playing paid promotions were probably a bit surprised by the ticker’s horrific behavior.
Expensive pumps usually show some growth before crashing down to earth and quick, well-timed trades could yield the odd profit opportunity. MDDD, however, made virtually no movement in the right direction and slumped down on the second day of touting. It’s now moving up, but that doesn’t mean that the burned investors will manage to bring back their money.
We’ve been talking about MDDD for just under a month now and we said in the very first article (which came out way before the pump) that there’s little evidence to support any sort of future success. Little has changed since then which is why you should be careful to do the proper amount of due diligence before making any decisions.
On the bright side, MDDD is (so far) managing to avoid a suspension from the SEC. As we mentioned already, the promotion is one of the most expensive ones currently running and many people thought that a halt is the next logical step after the Caveat Emptor badge. It wasn’t to be. Instead, another large-scale pump, Guar Global Ltd. (OTCMKTS:GGBL), got the axe just minutes before the start of today’s session.
