Pumpers Try to Boost the Stock of SK3 Group, Inc. (OTCMKTS:SKTO)
Despite being one of the older medical marijuana pennystocks SK3 Group, Inc. (OTCMKTS:SKTO) have not been able to capture the attention of the market in the same fashion some of the other potstocks did. And it seems that in the past months the negative momentum has only been picking speed – since the start of April SKTO have been correcting for six out of the seven sessions. The only exception was yesterday’s session when they recovered by a little more than 20%.
The outcome may be undoubtedly positive but the performance of the stock throughout the day certainly showed signs of weakness. It opened at $0.027, made a brief run to $0.0287, just to fall right back down again closing the day at $0.025.
The problem is that even this rather hesitant recovery wasn’t brought by any actual progress made by the company. The latest PR that contained at least some meaningful information came on April 4 and announced that SKTO and Alternative Energy Partners, Inc. (OTCBB:AEGY) have signed the definite agreement for the merger between the two companies. With no new information the PR failed to even slow down the stocks slide towards the bottom.
Not to mention that back in March SKTO and AEGY decided to sponsor a youtube comedy show and 8 out of the last 11 PRs released by them have been nothing but advertisements for it. So, what caused yesterday’s sudden wave of optimism? The answer is quite simple – pumpers.
On April 8 SuperNovaStockPicks and HSP Team among a slew of other pump outfits started sending out email alerts touting SKTO. All of the involved newsletters disclosed a compensation of $12000 for their services. Yesterday the barrage continued with emails from HiddenGemStocks ($12 000 compensation) and Value Penny Stocks ($6000 compensation). Today ExclusiveStockPicks have also joined the promotion for the sum of $5000.
Even without the pump the red flags around SKTO were enough to demand the use of caution when dealing with their stock. Do your own due diligence and plan accordingly before committing to any trades.
Yesterday saw a bit of resurgence among the older marijuana pennystocks. Both Hemp, Inc. (OTCMKTS:HEMP) and Cannabis Science, Inc. (OTCMKTS:CBIS) managed to surge upwards after going through corrections for most of the past two months. HEMP returned to 10 cents per share after jumping by 33% while CBIS ended 17% in the green at $0.138. 