The $1 Million Pump For Endeavor IP, Inc. (OTCBB:ENIP) Crashes

The stock of Endeavor IP, Inc. (OTCBB:ENIP) managed to survive through the past 10 trade sessions without even one close in the red. Although the daily gains weren’t that impressive they still managed to bring the ticker to prices of above $1.20. Such a positive trend is not too uncommon for pennystocks who are being actively touted especially if the pump can rely on an above the average budget. ENIP is no different.

The promotion consisted of a landing page, email touts and even a report from Goldman Small Cap Research who placed a price target of $3 per share for the company but not before receiving $4500 as compensation. The newsletter sending out the email alerts is 900PercentStocks with the first one dated November 1. Reading their disclaimer reveals some rather interesting facts. Apparently C America Marketing is managing a total of $1 million dollars but even more importantly they own a large amount of ENIP‘s shares and intend to sell them.

And yesterday they might have decided that the time has come because the company broke its positive pattern and crashed by more than 13%. Right from the get-go stocks began to be dumped on the market resulting in an immediate plummet of the ticker. By the end of the day more than 1.5 million shares had been traded. In early trading today the stock dropped below the $1 mark but managed to recover and is currently at $1.08.

In our previous articles we warned investors that ENIP is a rather risky choice. They have no real operations and the only reason they are attracting attention is the artificial hype. ENIP owns exactly 4 patents and one patent application but have already started two court trials for patent infringement.

Although a positive outcome is a possibility the extremely cheap free trading shares owned by insiders of the company are a certainty. On September 3 ENIP did a 14-for-1 forward split which bumped the number of shares held by seed shareholders to $42 million bought for just $0.0007 each. At the current prices these people stand to gain millions. That is exactly why you should do your own due diligence and decide for yourself if the red flags around the company aren’t a bit too much.

Yesterday the stock of the Alkaline Water Co., Inc. (OTCBB:WTER), a company that not so long ago were touted by a $3 million pump, continued to slide towards the bottom losing 17% and arriving at $0.37 per share. Bergio International, Inc. (OTCMKTS:BRGO) also took a nosedive by slashing 20$ of its value and further 12% in early trading today.