A newsletter on Cal-Bay International Inc (PINK:CBYI) came yesterday after the session. But even without the promotion the stock had already surged above the average daily activity.
CBYI reached a volume of 37 million shares, while the 90-day average is 23 million. The stock price remained unchanged, which is not surprising for a triple zeros stock such as CBYI. The short volume was notably higher yesterday, reaching nearly 67% of the total volume according to FINRA.
The promotion which started yesterday, but should be felt today, was initiated by Stock Rock and Roll. They had received $10 thousand for the promotion by a third party called SC LLC.
The promoter has executed promotions on 40 stocks this year and for an average compensation of $7,500. The other important indicators which should be taken in mind when estimating the influence of the promotions are the intraday high and the average generated dollar volume per promotion.
First Stock Rock and Roll has achieved 14.5% as an average intraday high. Second, the promoter generates $270 thousand dollar volume per promotion.
Given the stock promotion and the fact that CBYI is a very cheap stock, it can be expected that the coming session will be highly volatile and risky. Investors will have to be prepared for these pitfalls before they decide to trade with CBYI.
