Resource Ventures, Inc. (PINK:REVI) Pumps Keep Stacking, Stock Keeps Sliding
Yesterday Resource Ventures, Inc. (PINK:REVI) took another tumble, closing 17% down – a second red day after the initial promotional emails made REVI shoot up 400% on Monday. Pumpers show no signs of letting up, with over a dozen new emails coming through yesterday.
After the markets closed, promoter Research Driven Investor (RDI) joined the ranks of REVI pumpers, sending a tout email in the evening hours. After taking a piggy-back ride on what is possibly the biggest pump job at the moment – the one targeting GOFF and run by Awesome Penny Stocks, and touting GOFF for zero compensation several days ago, RDI is now using this in the REVI pump, telling subscribers that this will be a similar case. This time, however, RDI will be bagging $40 thousand for a one-day effort and joining the other paid promoters currently advertising the company.
We previously examined some of the claims made by pumpers about REVI, as well as the fact that the company had zero cash and its $1.5 million in revenue ended up as a mere $25 thousand in net profit. Part of the new tout mails is also the news that REVI reportedly canceled 28 million of its common shares and replaced them with 7 million restricted preferred. Of course this is not reflected in a filing yet, as REVI is a pink sheet company and filings are sparse.
Research Driven Investor has a pretty sordid track record when it comes to running paid pumps. One very recent example is a promotion run by RDI over the weekend and early Monday on Buyer Group International, Inc. (PINK:BYRG). That one was an immediate disaster, with the stock sliding downhill, from the Monday open all the way down to its last close of $0.016 per share, or about 80% down in just three sessions. Truly, a stellar pick that landed RDI the usual $40 thousand in compensation.
Traders would do best to be extra careful with promoted stocks, especially when the cumulative compensation handed out to pumpers is in excess of $150 thousand.
