Solar Thin Films, Inc. (OTCMKTS:SLTZ) Climbs Mildly After Promotion
The second attempt to pump the stock of Solar Thin Films, Inc. (OTCMKTS:SLTZ) might already be over. Interest in the stock grew significantly as a consequence of the more than 25 alert emails distributed for the past two days and traded volume rose to about 5 times the average reaching 312 thousand shares. The impact on the stock price though proved to short-lived.
Traders who had a previous position in SLTZ had an opportunity to rake in considerable gains when right after the open the stock surged upwards by 40%, passed through the $1 mark and briefly touched on $1.2. But all those who decided to buy in after reading all the touts had a much tougher time when the ticker retraced almost immediately and at closing time was sitting at $0.89, just 8% higher than the previous close.
The newsletters who received the biggest compensation for their services were the affiliates of Advanced Marketing Services. They disclosed that to date they have been paid $97 500. One of them – Exclusive Stock Pick, took part in the pump for Blue Fire Equipment Corp (OTCMKTS:BLFR). The company started crashing on the very next day and hasn’t stopped ever since.
SLTZ financial situation is abysmal with zero revenues, net loss amounting to $263 thousand for the last quarter and working capital deficit of $6.8 million. More importantly shareholders of the company have endured through some serious dilution. In April a 1-for-500 reverse split was done which brought the outstanding shares to just 186 thousand but just 3 months later that number became 47 million shares. And apparently they have taken down their official site.
The latest addition to the companies backed by a $3 million pump – Indo Global Exchange(s) PteLtd (OTCMKTS:IGEX) continued its prolonged climb by adding another 2.6% to its value and arriving at $0.79. PacWest Equities, Inc. (OTCMKTS:PWEI) who are the newest Awesome Penny Stocks pump also enjoyed a positive session jumping up by 10% albeit on a considerably lesser volume.
