Red Giant Entertainment, Inc. (PINK:REDG) Rears Its Head Again

Yesterday Red Giant Entertainment, Inc. (PINK:REDG) popped back among the most heavily traded penny stocks, moving 61% up and shifting 16 million shares. The movement still left the company about 90% down from the closing prices during the days when it was still actively pumped.

REDG was a sob story for many, as the company peaked at $.20 per share in early March, boosted by the pumps that started on February 28, but then went to slide uncontrollably, down to one cent per share. Traders who were fully aware this was a pump job and still decided to play the gamble, expecting to make a profit on the backs of the more naive, ended up badly burnt as well. The second surge after the dip never came and REDG surged back only yesterday but it was too little, too late to cover investor losses suffered in the landslide of a failed pump.

The company has gone completely silent after a wave of news was released, conveniently timed to coincide with the pumps. With the promoters at Victory Mark Corp. abandoning REDG on March 12, investors were hung out to dry.

Yesterday’s percentile surge was nowhere enough to help traders cover losses incurred after buying over the duration of the pump campaign. It may turn out that this little hiccup may have been a good bet nonetheless, as after popping up a little at the open, REDG slipped in the red and is currently 9% down.

The promoters who ran the pump job for REDG logged a third horrible pump in a row, chaining it to previous failures VuMee, Inc. (OTC:VUME) and PubCrawl Holdings, Inc. (OTC:PBCW) before it. Despite this horrible track record, Victory Mark are now pumping Goff Corp. (OTC:GOFF), together with promoter big daddy Awesome Penny Stocks, pushing the price up and once again disclosing $500 thousand in expected compensation for their promotional efforts.