Yesterday, one of the hits among investors was THE AMERGENCE GRP (PINK:AMNG) stock.
AMNG shares rose 55.45% on an unimaginable volume traded. This was the natural outcome of AMNG stock promotional campaign, which in turn was the natural follow up of the company’s “Dividend Farming” initiative.
Yesterday’s presentation of the “Investor Farming” Initiative provided by AMNG stock was made under the auspices of four stock promoters.
The disclosure about the stock promotional campaign shows that AMNG has the modest budget of $15 thousand to promote its own shares. In addition, one of the promoters will not be compensated for the services provided.
It does not seem strange that the above mentioned budget is not higher. At the end of June, AMNG had only around $1,000 in cash to cover all of its operations.
The chart here, and the company’s official disclosures related to funds raising, also confirm that since this June and up to yesterday AMNG was not able to improve its cash position.
Even the announced by the company “Dividend Farming” initiative was not able to attract more investors in support of the company’s attempts to raise funds. Also not a strange thing, since the declared ambitions to infuse innovative companies “with the expertise and resources needed to transform them into their own unique, fully-reporting, publicly-traded, bulletin board companies” may require not only expertise, but also capital. AMNG appears short of that last requirement.[BANNER]
The AMNG stock performance during the last trading session was brilliant, however. The “Investor Farming” initiative, led by four stock promoters, resulted not only in the shares’ price surging up. The traded volume of 114.4 million shares was the largest over the past decade of trading of AMNG stock.
The only fact bothering investors is that AMNG has already had some similar promotional performances last summer. Then, rushed by a stock promotion, AMNG stock jumped up rapidly and after the campaign rapidly fell down.
