The Expected Downfall of TechnoConcepts, Inc. (OTCMKTS:TCPS)
After the big winning streak for TechnoConcepts, Inc. (OTCMKTS:TCPS)’s stock that lasted 2 weeks in which they registered only one day in the red it seems that things are going in a bad direction.
Today the trading session for TCPS is expected to be very interesting as there will be intense trading. They opened at $0.036, had a low on $0.0267 and are currently rising above yesterday’s close at $0.04.
All the trade sessions during the last 2 weeks had huge volumes of traded shares which didn’t fall beneath 5 million traded shares per session and went as high as 21 million. When you compare these numbers to the company’s average of 4.8 million shares it seems that the hype has been created artificially.
Yes, there are some pump emails, but not that much and there have been no press releases from TCPS. What we did find out, however, was that there is a big fire going on around investor forums and it all seems like some of the people who have bought their stock a long time ago try to tout it themselves to resell at higher prices.
There is a non-stop flurry of posts that are expressing hopes of news from the company today about recent developments in the company. Of course the talk of developments is bogus as the company is literally doing nothing.
There are even some speculations of incoming filings and patent applications, however, those are just another attempt from some of the people that are left with under-priced stock who want to sell it with higher profit.
Some of the smarter traders out there are getting out which at this point may be a good decision as the stock is getting shaky. It is losing its momentum with the 2 days it spent in the red and investors are getting more and more eager to make a profit, whatever the cost. This in terms will most probably lead to a downwards movement caused by traders selling at lower and lower prices just to get out.
As we mentioned in our previous article covering TCPS they haven’t filed any reports with the SEC from December 2007 and they don’t even file reports with the OTC Markets. Furthermore you can’t see any balance sheets in Yahoo! Finance or anywhere else that are newer than 2007.
Also the fact that they have no website, no press releases, in other words no publicly available news about the company leads one to think that they are a dead ticker whose movement can only be attributed to people who fooled themselves into buying the stock or bought it intentionally at the low of $0.002 and are now making a killer profit touting this dead ticker themselves and selling at the current prices ranging from $0.030 to $0.040.
Some of these investors could have even bought huge amounts of stock as they are probably the ones paying for TCPS to be featured in pump emails by paid promoters alongside other tickers.
With this situation some of the most experienced traders would probably be able to make a profit, however, even if you are not that new to the OTC Markets be sure to do your due diligence weigh out the risk and then decide if you are going to play this game.
