Stock Mister Can’t Get Enough of Harley Westbury Corp (PINK:HVYW)
The common notion that things go in cycles in this life has stood the test of time more than once. The same goes for the things that are happening in promoland. Promotions have been occurring on a regular basis, while promoters have changed their roles every now and then.
Most of the promoted stocks we have already covered since the beginning of the week had been pumped at around Feb. 19-20, i.e two weeks ago. Harley Westbury Corp (PINK:HVYW) makes no exception. In fact, David Cohen pumped the stock on Feb. 20 against $50 thousand, only to decrease its value by 54% in just two days. Now, Stock Mister has taken on pretty much the same task, this time for $35 thousand. Yes, this is the same promoter that acted as a third party in the pump job on Sunbelt Intl Corp (PINK:SUNB) which took place yesterday, which goes on to show how versatile a range of services those people are capable of offering you.
So, will the pump succeed in giving HVYW a boost this time? Eighty minutes into today’s session, the answer is a resounding no. Gapping up 25% at $0.02 per share, HVYW shares have already shrunk to a mere $0.0125 per share, down 22% from their latest close, and there are a lot of working hours to go before the current session comes to a close.
If we take a look at Stock Mister’s dossier of past promotions, we can hardly be surprised by the current scenario. Indeed, the big chunk of penny stocks which used to be pumped by that same promoter in the past have suffered severe losses in terms of market value once the hype was over. Some of them never recovered in full, especially the financially distressed ones. Considering HVYW‘s huge working capital deficit and its mounting net losses, we sincerely doubt that the stock could be strong enough to resist the huge promotional pressure imposed by Stock Mister & Co.
The developments mentioned above undeniably show the adverse impact paid advertising campaigns tend to have on penny stocks, which is why staying away from such investment opportunity often turns out to be the sole successful investment strategy.
