This month, Sonora Resources Corp (OTC:SURE) interrupted sharply the uptrend and the share price was sent into a lower trading range. Yesterday, the stock traded under the impact of a promotional campaign, but this did not improve the value of SURE.
SURE closed yesterday with an 8.49% loss from the previous close at $0.43. Trading volume was much lower than the average with only 56,415 traded shares.
There seems to be no particular reason to be pointed out for the substantial losses that SURE has suffered since the end of August. Maybe, investors anticipate that the company would soon have to raise capital and dilute its shareholders due to its recently signed agreements to acquire interests in certain new mining properties.
Those new agreements require cash payments that SURE could not afford without raising additional funds, having only $175,500 in cash at the end of May this year. Another issue that could harm the value of a stock in such a way are promotional activities. And SURE has been recently the subject of such paid promotions.
Our database shows one promotional campaign for SURE which started at the end of August. So far, we have received three e-mails, the last one coming in yesterday. Total compensation consists of $28,000, which have been paid by an undisclosed third party.