Tiger Oil and Energy Inc. (OTCMKTS:TGRO) Pump Reaches Record Prices

After a few days of hiccups caused by the suspension of the multy-million pump for Makism 3D Corp (OTCBB:MDDD) last Friday now the stock of Tiger Oil and Energy Inc. (OTCMKTS:TGRO) is once again surging up the stockchart. The artificial hype around the company has been constantly fueled by at least two email alerts a day sent by StockTips, one at market open and one in the evening.

Yesterday the stock made another 20% gain and closed at $0.73. Volume was significantly higher than the previous session though and the 5.4 million traded shares resulted in the third highest dollar volume for the company of $3.6 million. The ticker broke its previous 52-week high but in early trading today it skyrocketed to $1 per dollar albeit only for a moment as such prices may still be quite out of reach. Currently TGRO is 15% up trading at $0.84.

The enthusiasm showed by investors was further fueled by the PR article released by TGRO around midnight. Apparently the management of the company has been able to secure a $600 thousand funding in the form of a convertible note. As we said in our previous articles the company was in a desperate need of new funding source as their own financials were close to non-existent at the end of September with less than $2000 in total assets.

Sadly the press release reveals very little information about the terms of the deal. It doesn’t mention the name of the nonrelated source of the money but says that there will be three tranches of $200 thousand each with a 5% callable convertible note and a conversion price of $0.50 per share.

The company still requires you to do your own research before attempting any trades though. The stock is already made a significant climb and chasing after it carries its own risks. Not to mention that most of the insiders of TGRO have been involved in the past with stocks that got actively pumped and then left in a state of freefall sliding towards the bottom of the chart. This was the case for both Northumberland Resources Inc (OTCMKTS:NHUR) and National Graphite Corp.(OTCMKTS:NGRC).