StockTips Stumbles With The Pump For COASTAL INTGRTD SVCS (OTCMKTS:COLV)
For the past two years StockTips has been one of the most, if not the most, influential pump outfit in the world of pennystocks. Now, however, it seems that they are losing their ability to lure investors in and the pump for Coastal Intgrtd Svcs (OTCMKTS:COLV) has been nothing short of a disaster.
It is true that when the market opened on Monday the artificial hype generated by the landing page and the email alert drove throngs of investors towards COLV resulting in a traded volume for the day of over 28 million shares but almost the entirety of the that amount was registered during the first hour or so of the session. For the rest of the day the interest in the stock was quite negligible not to mention that by the time of the closing bell COLV had crashed by 18%.
SockTips and Mike Statler, who is a fictional character played by a hired actor, didn’t give up though and yesterday morning sent another email. How did this influence COLV’s performance? Well, let’s just say that this time less than 4 million shares were traded while the ticker lost another 12% of its value and dropped to $0.063 per share. So, in other words, COLV wiped nearly 40% of its share price in just two days.
If the $4.5 million pump by StockTips is not capable of pushing COLV in a positive direction what are the chances that the stock will be able to do it on its own? Especially if you take a look at the latest quarterly report which showed that at the end of March the company had exactly:
• $794 cash and total assets !!!
• $256 thousand total current liabilities
• ZERO revenue
• $19 thousand net loss
Now add to the picture the 52,418,000 shares that were issued last year as a conversion of debt at just $0.001 each. Thanks to the increased volumes as a result of the pump the owners of these shares can reap massive profits if they decide to sell them on the open market.
It should be obvious that COLV is an extremely risky choice. If you are determined to play the stock be sure to take into account all of the red flags and to adjust your trades accordingly.
