Global Hunter Corp. (CVE:BOB) (PINK:GBLHF) stock saw a serious buying pressure on Monday, all due to promotional newsletters and a favorable technical situation.
At least three newsletters have been promoting BOB since yesterday. The amount paid for these services was $60 thousand. Lebed.biz and Wall Street Grand LLC were the main promoters, and the latter one was also described as a paying party by Lebed.
The newsletters already had some effect – the usually illiquid BOB stock gained 16.6% on the Toronto Venture Exchange. Over 2 million shares changed hands during the session, which was ten times more than the 90-day average volume of just 204 thousand.
There was no other news or reports that could have affected the stock price performance.
The newsletters pointed out that the market cap of BOB, currently at $18.6 million, is very close to the net tangible worth of the business, currently at $15.3 million. The newsletters were also timed very well – technically, the share price action had just proven the support from March 2011 is still pretty strong and the additional buying pressure just made BOB into an attractive bounce play.
Otherwise, the newsletters focused on descriptions on properties owned by Global Hunter, calling them very prospective and giving a pretty detailed explanation of the work that’s been done on them thus far. There was no new information disclosed.
