The first days of February turned slightly bullish for DIG-IT UNDERGROUND INC (PINK:DIGX). DIGX has been rising in the last three sessions on a higher than the daily average volume.
Last Wednesday, the stock price increased 25% to $0.0625 on a volume of 121 thousand shares, which is higher than the daily average.
The next day DIXG rose another 4% to $0.065;however, this time the trading activity was below the daily average.
On Friday, the trading with DIGX stock intensified significantly and subsequently DIGX closed the session with more than 296 thousand exchanged shares, or almost four times higher than the three-month average. On that day DIGX share price increased 15.38% to $0.075.
FINRA shows that 42 thousand shares of the whole volume were traded in short transactions.
Why the trade with DIGX has enlivened remains unclear though. There has been no announcements or reports recently filed on the official OTC website.
However, it appears that certain parties have been preparing for a forthcoming advertising campaign on the company. In this train of thoughts, our promotional radar has detected two promotional newsletters on DIGX which were issued during the weekend.
The letters were issued by 007 Stock Chat and Wall Street Stallions. Unfortunately, none of the newsletters disclosed information about the compensation and the paying party in regard to the advertising campaign.
It was really useful, though, that the promoters admonished their readers of the unpredictable influence which a promotion can exert on certain stocks.
In this respect both newsletters warn that: “Viewers of this newsletter should understand that trading activity and stock prices in many if not all cases tend to increase during the advertisement campaigns of the profiled companies and in many if not all cases tend to decrease thereafter. This tends to create above average volatility and price movements in the profiled company during the advertisement campaign that viewers should take into consideration at all times.”
