With the advent of the new trading week, our promotional radar has been detecting an increasing influx of penny stock newsletters. In this regards, our system shows that Wikifamilies Inc (PINK:WFAM), which was promoted last week, is once again on the agenda of stock promoters.
The current newsletter came last night from Wall Street Profits. The promoter disclosed he had received a compensation of up to $20,000 from a third party named S&P Associates.
The disclaimer states that Wall Street Profits does not own any shares of WFAM but it doesn’t not deny that the third party may hold shares of the company and may plan to sell them on the open market.
The previous promotion of WFAM took place on Tuesday, February 14. That campaign was led by Stock Wizards who disclosed a compensation of $10,000 but didn’t reveal the name of the third party.
WFAM quote from that day shows the stock’s value went up 4% on a volume of 650 thousand shares, which is one of the highest in the company’s history. The stock continued to climb the next day on heavy volume, but slipped down 10% on Tuesday.
At the end of the week, WFAM rallied back to $0.29 but the volume was considerably lower than on the previous days.
