Some traders have managed to make some money on GoIP Global, Inc. (PINK:GOIG) in the last year or two. A lot have managed to lose a lot on it too.
As it sometimes happens with stocks which lose a huge percentage of their value, GOIG made a significant move up for no apparent reason yesterday.
With approximately 87.2 million shares traded, GOIG closed 75% up at $0.0014. The price hadn’t touched the double zeroes area in nearly a month.[BANNER]
There was, in fact, a PR by GOIG yesterday, but it was issued after the markets had closed. The announcement says that GOIG common stock shareholders will receive a dividend of one GOCOM share for each 625 shares of GOIG.
Some people got overly excited because the PR also states that shareholders would receive a cash payment of $3. For some reason, that made those traders believe that one GOCOM share was worth $3.
However, the cash payment only applies for those who would be entitled to receive 1 share or less. Additionally, the dividend is expected to be distributed by January 1, 2012.
On a different note, the PR says some financial reports will be posted the week of Aug. 15. A much more noteworthy event would be a financial report that doesn’t show losses all around and more dilution. That, however, is not even hinted at in the PR.
