TheDirectory.com, Inc. (OTCMKTS:SEEK) Corrects After Jump

Yesterday’s session brought more or less predictable correction to the share price of TheDirectory.com, Inc. (OTCMKTS:SEEK). The ticker retreated 20% to a close of $0.005 per share on above average volume.

Over the course of October, SEEK stock quadrupled in value from $0.001 to $0.004 per share. The strong green trend seemed to continue into November, as the ticker gained 54% on a volume swell. SEEK closed Monday at $0.0065 per share on over 350 million shares traded.

The surge was bound to retrace and even though traders on discussion boards are blaming market makers and shorters, the correction was likely caused by the price getting ahead of itself and not by evil manipulators. SEEK‘s previous similar surges retraced as well but the ticker managed to balance it out at a level that was a little higher than pre-spike prices and this seems to be another of those cases.

The company has not published any new PR announcements following its late October announcements. SEEK also informed about its intentions to move out of the Pink sheets and uplist into the OTCBB tier. There is no hard information when this may be happening as SEEK is still stamped with the Pink Limited Information sign on OTCMarkets and their most recent official report is a quarterly for the period ended May 2013.

If SEEK does manage to pull out a full two years of audited older filings and provide all the documentation required for the uplisting, this will definitely help the company’s credibility and improve investor confidence. Until then, SEEK remains a risky play that is exhibiting the volatility typical for sub-penny stocks.

Another big percentile mover in Tuesday’s session was Pan Global Corp. (OTCMKTS:PGLO) who finally ran out of luck and the pump that helped the price more than double tripped over. PGLO closed 33% down, wiping its two biggest and latest green sessions.