Urban Ag Corp. (OTCMKTS:AQUM) Closes The Week Higher While Being Touted
The paid promotion of Urban Ag Corp. (OTCMKTS:AQUM) paid out well for some as massive amounts of shares were flying around in the 2 final sessions before the weekend. The ticker jumped quite high in price also, but will it be able to sustain it?
At first, only 24-7 Stock Alert and Stock Mister were touting the stock of AQUM with some emails that came in on Wednesday. Then, on Thrusday more than 10 outfits were keeping up the hype with new emails, disclosing compensations ranging from $15 thousand to $25 thousand.
After the huge 75% gain in Thursay, when more than 290 million shares switched hands, AQUM closed the week with another gain of 52%. This time there were fewer trades and the ticker registered 204 million shares that changed their owners, which helped generate a trade value of $645 thousand as AQUM closed the day at $0.0032.
The pumpers stayed quiet on Saturday and we received several other emails on Sunday, touting the stock. Damn Good Penny Picks bagged the biggest compensation of $25 thousand, while the others received $15 thousand for their effort in promoting the stock.
Despite yesterday’s emails, however, AQUM started the session on the wrong foot. The dumping fiasco in which more than 75 million shares were traded pushed the price down and by now the ticker has lost a quarter of its value.
We reckon that the massive dumping of shares isn’t the only reason for AQUM‘s bad start of the week and there is a big possibility that they will close the session with a big red candle, despite Friday’s optimistic press release.
Probably more and more people have started taking a second look on the sleazy ways that the promoters are using to fool them that AQUM is actually a profitable company. As we mentioned in our previous article, Stock Mister was making some misleading statements about the earnings of the company, quoting revenue figures instead of net profit.
After all, AQUM reported a $772 thousand net loss for the six months ending June 30 while recording 90% less revenue from the same period in 2012. Not to mention the fact that the company’s CEO, Mr. Billy V. Ray, Jr has already led one company to bankruptcy in 2008. The company in question is Charys Holding Co. and as we mentioned in our previous article about AQUM it operated in the same field as the current, telecom and infrastructure services.
All in all AQUM is a risky investment choice, because its low price allows it to sway hard in both directions, depending on how much the ticker is being touted. This is why we would advise you to proceed with caution, do your due diligence and weigh out the risks if you have any thoughts of betting this particular stock.
Biozone Pharmaceuticals, Inc. (OTCBB:BZNE) was not so fortunate in Friday and recorded a small loss in price. Despite that the ticker managed to get ahead of Globalstar, Inc. (OTCMKTS:GSAT) in terms of trade value registering $2.79 million.
