Nutranomics, Inc. f/k/a Buka Ventures, Inc. (OTCBB:NNRX) Slipping Despite News
Nutranomics, Inc. f/k/a Buka Ventures, Inc. (OTCBB:NNRX) has announced two purchase orders in the last two sessions, but that didn’t prevent the drop yesterday.
NNRX closed down 14.58% at $0.41 per share on a little over 1.6 million shares. It’s not a new all time low, but it is the lowest close since NNRX started trading actively last month.
One possible reason for the lack of significant, positive market reaction to the press releases is the fact that the pumpers paid to tout NNRX are the same ones that were touting Green Innovations Ltd (OTCBB:GNIN) and iTalk, Inc. (OTCBB:TALK).
As I mentioned in my previous article GNIN had a similar approach involving numerous announcements of purchase orders, which ultimately stopped having any positive effect on the market performance of the stock.
We haven’t received any new tout emails from the pumpers paid to promote NNRX. According to the disclosure on the web page of ECA Group, it is expecting to receive another $60 thousand today.
At this point it’s not clear whether the pump has ended. Even if it hasn’t, the market reaction to the fact that there was a paid pump, suggests future pump emails may have a negative effect on the market performance of NNRX.
