Soul and Vibe Interactive Inc. (OTCBB:SOUL) Sets Record Price
Last week was the best in the short trading history of Soul and Vibe Interactive Inc. (OTCBBP:SOUL). The company was on a constant surge upwards and at closing time on Friday was sitting at $1.48. In just 5 sessions they accrued nearly 740% in value starting from as low as $0.02. The market didn’t remain indifferent to this unprecedented performance and for each of the last two trading days SOUL logged in 5.3 million traded shares.
In the land of pennystocks oftentimes the reason for such tremendous runs is an ongoing pump promotion that is lifting the stock. Even more so if the company in question has been as promoted as SOUL. But the last alert email we received is from July 25 and represents a free advertisement send by PennyStockSolutions.com. Still after a bit of digging around we found many traders that have received SMS alerts about SOUL from BEST DAMN PENNY STOCKS and some of its affiliates. Although it certainly helped spreading awareness we doubt that the traded volume was caused by them.
SOUL has steadily been adding to its advisory board starting from a 1 man show a couple of months ago and turning into a company with some impressive names in its management. On July 10 they tried to further boost their image by announcing a partnership with Vuzix Corporation (OTCBB:VUZI). The agreement is for SOUL to develop specialized games for VUZI‘s smart glasses. How successful this venture will be is quite doubtful when they face direct competition from Google.
The financial report for the second quarter of 2013 should be filed in the next weeks and we will be able to see what the company has been doing besides hiring people. For now we have their quite dismal results for the period ending March 31 :
- $1692 cash
- $5692 total assets
- $200 thousand total liabilities
- ZERO revenues since inception
- $250 thousand net loss
Investors should never try to chase after stocks especially when they have almost reached their peak. SOUL is grossly overpriced and it may start correcting at any point. Some of Friday’s momentum may spill over to today but it won’t hold for long without being fueled with more PR.
The end also seems to be near for the long-lived Awesome Penny Stocks pump for Xumanii, Inc (OTCMKTS:XUII). The company wiped another 26% of its value and dropped to $0.28. Investors should know where the stock is heading by now when even OTCmarkets branded it with the skull and crossbones mark.
The much-beleaguered medical company currently undergoing massive restructuring – Affymax, Inc. (OTCMKTS:AFFY) became one of the most traded stocks during Friday’s session. It rose by 9% on more than 3 million shares to close at almost the exact price as SOUL – $1.45.
