Tiger Oil and Energy, Inc. (OTCMKTS:TGRO) Trudges On After The End of The Promotion
It seems that Tiger Oil and Energy, Inc. (OTCMKTS:TGRO) still have some loyal followers even after the massive dumping of stock that took place right at the start of 2014. Then in just 6 sessions the company slashed a full dollar out of its overly-inflated share price and dropped down to a bit more than 30 cents per share.
The harsh correction shouldn’t have come as a surprise to most investors as we have been covering the $2.5 million pump promotion that was going on for them since the moment it began. Thanks to the massive budget set aside for the pump StockTips created so much artificial hype that for a brief moment TGRO was able to reach a high of $1.60. Such ridiculous price levels for a company that had exactly $1727 in current assets and zero revenues since inception could not be supported for long.
Many thought that the ticker was headed straight for the bottom of the chart but it is still hanging on. Even more than that, for the last four sessions it has been constantly climbing and as of yesterday it once again trades for 52 cents per share. Traded volume was nothing spectacular not even reaching half of the average for the company of 3.8 million shares but the resulting dollar value of $643 thousand was enough to place the company among the top traded pennystocks.
The company has released only one PR statement for nearly a month and it came out yesterday. In it TGRO announced that they have received the third and final tranche of the $600 thousand financing deal with Chancery Lane Investment Group, Inc. The money should be enough for TGRO to proceed with the drilling in Cowley County, KS. The first spudding of the wells is supposed to take place at the end of February or early March.
Investors should note that although the pumpers may have moved on the red flags in relation to the management of the company are as serious as ever. TGRO‘s CEO Mr. Kenneth Liebscher and the company CFO Mr. Howard Bouch have been involved with not one or two pumped pennystocks in the past and the current $22 million market cap is still quite disconnected from the reality of the company.
The previous company pumped by StockTips – Pan Global Corp. (OTCMKTS:PGLO) also managed to stabilize for a time after the end of the promotion but have since fallen to record lows of $0.17 per share.
The previous company pumped by StockTips – Pan Global Corp. (OTCMKTS:PGLO) also managed to stabilize for a time after the end of the promotion but have since fallen to record lows of $0.17 per share. Another oil exploration company that has been pumped in the past two weeks was Centor Energy, Inc. (OTCMKTS:CNTO). After making an impressive run that saw them climb from 1 dollar per share to more than $2.4 yesterday the stock crashed for a second day in row after a record number of shares were dumped on the market. CNTO lost 11% of its value and closed the day at $2.03.
