USA Graphite Inc (OTC:USGT) Pumped Everywhere
The ongoing pump of USA Graphite Inc (OTC:USGT) has had its ups and downs, but the sheer magnitude of the pump efforts is rare.
Yesterday, USGT closed 1.28% at $0.77, although it traded under $0.75 for most of the session. The volume of 1.5 million shares was above the average, but just half of the volume on Dec. 28.
The paid pumpers saw yesterday’s performance as “profit-taking” and “consolidation.” Traders may want to keep in mind those are the same words they used for their previous pump job Premier Brands Inc (OTC:BRND) f.k.a. Tracksoft Systems Inc, when it was crashing.
Now, about two months after the pump BRND is trading 90% lower on insignificant volume, and those that didn’t get out in time are stuck with overpriced shares and no one to sell them to.
It’s anybody’s guess how much time it will take for USGT to go down that same road. At this time, in addition to the paid newsletter pump campaign there are also spam emails touting USGT and paid posts on investors message boards.
The company has been doing its part too, although there hasn’t been a press release after the uninformative “update” from Dec. 28. There haven’t been any new filings since December 11, 2012. Nevertheless, at the time of this writing, USGT is up 1.30%. Traders should be very careful with this stock if they don’t want to get burned.
