Yesterday was a good demonstration of why most paid pumps are for stocks that trade for a dollar or less. Crown Dynamics Corp. (OTC:CDYY) was promoted but it didn’t work out too well.
CDYY closed down 2.13% at $2.30 on a little over 17 thousand shares, which is not far above the average.
The promoter operates a number of newsletters which touted CDYY. The disclosure said that Oceans Away, Ltd., a third party paid, $25 thousand for the pump. Unlike most paid pumps, this one couldn’t even get an active morning of trading.[BANNER]
CDYY is a development-stage company which offers solutions aiming at enhancing the personal safety of the elderly and people with special needs.
Recently, the company has made a number of announcements. The last one is from yesterday when CDYY issued a press release saying it had finalized a sales, distribution, and warehousing agreement with ActiveForever.
It’s not yet clear how the recent developments will affect the business performance of SDYY, but yesterday’s session suggests traders aren’t too hyped at this stage.
