Superior Venture Corp (OTC:SVEN) Makes History
Superior Venture Corp (OTC:SVEN) was a really unique Awesome Penny Stocks (APS) pump. The first one to never really take off after the first spike.
Yesterday SVEN took a 52.63% dive to $0.379, bringing the total loss to about 89%. We tried to warn investors at the start of the whole ordeal. Hopefully, you didn’t get burned on this one.
The day before yesterday, a technical error in the system of OTC Markets resulted in an erroneous CUSIP number change and disrupted trading. The company issued a press release on the matter the next day, but that didn’t prevent the horrendous price drop.
After this timely and adequate reaction, SVEN resumed with its previous attitude. After yesterday’s close the company issued another press release talking about how its subsidiary, Ilustrato Pictures Limited plans to grow, completely disregarding the fact that the stock price has dropped nearly 90% in the last 11 sessions.
Meanwhile the pumpers at APS are staying silent. The last email they sent is from Sunday, and it said SVEN could “soar past $2.00.”
SVEN turned out to be worse than any of the previous pump jobs of APS. That’s quite an achievement considering the list includes TagLikeMe Corp (PINK:TAGG) and Pristine Solutions, Inc. (PINK:PRTN).
With TAGG, PRTN and the rest of the APS pumps, those who recognized them as pump plays instead of long term investors had chance to make some money. In the case of SVEN, even those who were fully aware that’s it’s a paid pump, stood little chance to make anything, even getting out with a small loss would have been difficult.
Some traders think this may have been the end of APS. This is certainly a possibility, but one should consider that SVEN was actually a success for those who were behind the pump. The people who held SVEN shares from before the pump campaign had plenty of time to cash out, while naive traders were gobbling up “bargain shares.” We may yet see another APS pump job at some point in the future.
PREVIOUS VIDEO COVERAGE OF SVEN:
