The Terrible Performance of Aristocrat Group Corp (OTCMKTS:ASCC)’s Stock
If you have followed our coverage or at least looked at the charts of Aristocrat Group Corp (OTCMKTS:ASCC) you would have notices that they have an awful performance. In fact their chart movements look more like a cardiogram of a person who suffered a heart attack, because the stock is moving only according to promotional campaigns, as there is no actual evidence of the company making any business apart from selling stock.
The stock of ASCC hasn’t been doing good this month as they are sliding down the charts after the uplift of its price that began mid-June and helped it breach the $0.60 mark going as high as $0.67 per share. Sure that happened after the promotional campaign which ended on June 5, but the reason was something else. It all happened, because of the promising press release about ASCC‘s premium vodka that is supposedly going to hit the shelves later this year.
It seems that the insiders didn’t like the recent downward movement in the price of ASCC‘s stock, because they are starting to repeat themselves in a fruitless effort to promote the stock yet again. On July 16 another press release was made by the company which was almost identical to the one from June 13, which triggered the upward movement in price. Not very original.
Even if it wasn’t that original some people fell for it. The price did indeed fall 10% from the previous day’s close of $0.39 to $0.35, but it did so on a volume double their average with a total of over 921 thousand shares that switched hands generating a trade value of $304 thousand. With it’s current price their market cap comes at $21 million, but can they really back that up.
- cash: $112 thousand
- current assets: $141 thousand
- current liabilities: $338 thousand
- revenue: $0
- quarterly net loss: $363 thousand
Well, that doesn’t look like a company worth $21 million does it? If you haven’t read our previous articles on ASCC you would probably not know about the biggest red sign that they bring to our attention: Its CEO Robert Federowicz, who is involved with a number of pumped tickers like OBJ Enterprises f/k/a Obscene Jeans Corp. (OTCBB:OBJE), First Titan Corp (OTCBB:FTTN) and Rainbow Coral Corp (OTCBB:RBCC). The last 2 of these companies even share the office of ASCC alongside another one of Federowicz’s companies NuEarth Corp (OTCMKTS:NUEC). Just so you have an idea on how these companies are doing we added the 3 year chart for OBJE. As you can see the dumping of stock since the beginning of this year is simply mind-blowing.
If that isn’t enough to convince you be sure to do your due diligence and weigh out the risks for yourself, things that are a must when you are thinking to invest in a risky stock such as ASCC.
