Yesterday, New World Gold Corp. (PINK:NWGC) closed down 4.79% at $0.0895 after a promotion and a press release.
It was not the first promotion to have a negative impact on the price of NWGC. Back on Oct. 12, a promotion also led to a negative close for NWGC.
NWGC is engaged in defining and producing gold reserves on existing leases. The company has reported revenue and net income, but the stock market doesn’t respond as one would expect.
Yesterday’s trading was probably also affected by a press release by the company, although it didn’t provide some significant news. Basically, it was just an update reminding people that the company claims they can process its own ore and that the company’s mills process other companies’ ore.[BANNER]
At the current price, the market cap of NWGC is about $5 million. It seems traders are either not impressed, or don’t believe the reports as it is definitely not a case of people not knowing about the company.
The promotions bring in volume, but the results so far have been negative price movements. Only time will tell whether the market will warm up to NWGC.
