Plandai Biotechnology Inc. (OTCMKTS:PLPL) Jumps On Pumps, Hype

Plandai Biotechnology Inc. (OTCMKTS:PLPL) may have ended 2013 badly and started 2014 low, but the company is now catching fire – Friday’s session saw them skyrocket to $2.41.

PLPL opened at $1.525 and immediately started climbing the charts. For a short while at about noon the company jumped to almost 3$, doubling its market value. The ticker failed to maintain the high and fell back to where it was before the ascent, but continued its steady climb until the end of the session.

As a result while companies in the branch, like Terra Tech Corp. (OTCMKTS:TRTC), Tranzbyte Corp. (OTCMKTS:ERBB) and Cannabis Science Inc. (OTCMKTS:CBIS), were all slumping, PLPL jumped 58.55%.

The company has on more than one occasion boldly claimed that through its partnership with Diego Pellicer it will become a pioneer in the marijuana retail business. However, it should be noted that although it has generated revenues in the past, most of them were made through the sale of timber and agricultural products, not marijuana. And, as was mentioned in a numerous previous articles, their present financial state leaves much to be desired.

Presently PLPL is a prime example of how pumps, combined with hype, can produce explosive results in a volatile market. Because it’s safe to assume that the company’s last jump was made on nothing more than pumps and the hype around Diego Pellicer’s CBS interview.

PLPL doesn’t have any new filings or official disclosure, hasn’t issued any new press releases, hasn’t shown any sign of activity or anything to suggest any kind of progress.

Despite the enthusiasm of the company’s officials and PLPL‘s present inflated state, its future is uncertain.