Yesterday, GRPR stock has been promoted for the forth time this month. The $54,810 cash compensation was paid by a third party, obviously interested in advertising GRPR shares to traders. The total amount spent on promotions for the stock only in this months becomes thus very impressive. According to the promotional disclosures, four different promoters have received over half a million dollars to pump GRPR stock.
Further, GRPR appeared last week to be the next massively tanking client of the non-disclosing promoter Skymark Research. But yesterday, the promotion inspired some shorters to come into action again. The result was that GRPR stock rose by 18.25% to close at $0.46 on above the average volume. And on high shorting activity: nearly 60% of the over 450,000 shares traded were sold short.
On Friday that percentage was over 55%, but still on all the shorters’ and promoters’ efforts, GRPR shares could not improve their oversold status.
Taking into account that GRPR’s financial results for the quarter ended this June did nor reveal any shocking facts, the free fall of the share price last weeks seems even more questionable. GRPR’s business still consists of four oil and gas located near the Jonah Field region, which are referred to as the SE Jonah Prospect and on which still no exploration work has been done.
Today’s session will show if the promoters have the chance to repeat their previous success.
