Plandai Biotechnology, Inc. (OTCMKTS:PLPL) Climbs Further Up on Hype, Pumpers and PR Fluff
The stock of Plandai Biotechnology, Inc. (OTCMKTS:PLPL) has been the target of a paid pump campaign for more than 10 months and there are no signs of slowing down. Just for the four weeks of January we have received more than 30 email alerts touting the company with the latest one arriving last Thursday. For most of 2013 the pump has surprisingly been able to support PLPL at price ranges above 40 cents without any major corrections.
At the end of September though investors finally grew tired of the incessant stream of pump emails and PLPL took a sudden plunge towards the bottom of the chart when in just three sessions they dropped from $0.45 to $0.20. Luckily for PLPL this pullback happened right before the start of the current massive marijuana hype that is still influencing the stocks of the companies involved in the industry.
But tPlandai has another way of further boosting the hype created around it – the non-stop barrage of PR announcements. Well, to call them announcements is not exactly right as the press articles rarely contain anything more from fluff. The only meaningful recent information was PLPL‘s partnership with Diego Pellicer, Inc. and Diego Pellicer Worldwide Inc. that allows the company to use the Diego Pellicer name for its Phytofare products which was revealed on January 16. Since then it has been the topic of another 4 different PRs. For now the artificial hype is holding up and PLPL may once again challenge its 52-week high of $0.82 per share. In early trading today the stock is 26% in the green sitting at $0.78.
At the current inflated prices it may be for the best to look for another investment option instead of chasing after the stock. Not to mention that PLPL have still not been able to launch their products despite numerous deadlines as we discussed in our previous article.
The two industry leaders – Growlife Inc. (OTCBB:PHOT) and Medical Marijuana, Inc. (OTCMKTS:MJNA) are both up by 9%. PHOT is currently trading for $0.27 per share while MJNA is sitting at $0.340.
