Two days after Gold Standard Mining Corp (OTC:GSTP) announced it would start seeking new mining opportunities in Russia, its stock shattered the market with both a volume and a price explosion. That way, GSTP may have puzzled the market, because on that day there were no reports or news.
The answer why GSTP skyrocketed hides in the promotional database of Hotstcoked, where it is visible that on Jul 07 a very expensive campaign on the company’s stock had taken place. Numerous stock promoters, who apparently acted as a group, covered the company through a dedicated newsletter.
It is also visible that the paying party was a company called Emerging Equity Advisors and the whole sum invested in the campaign was $80 thousand.
The effect of the promotion was immediate. GSTP gapped up as soon as the market opened and through out the day it managed to surge even higher. Eventually, GSTP finished the promotional day at $0.125 with a total generated volume of 6.2 million shares, which is roughly fifteen times higher than the daily average. [BANNER]
However, in the next trading session it became apparent how artificial the promoting stimulus was. Thus, on Friday GSTP bounced back from the 50-MA and closed at $0.11, or 12% lower than the previous day. The stock declined, even though on that day GSTP said via the Business Wire system that it had entered into an agreement with Umlekan Mining for the exploration mineral deposits in Russia.
Apparently, these days GSTP has been losing the control over its stock by the attempt to issue some informative updates. It was only the $80 thousand stock promotion on Thursday that managed to push the stock up for a while. Therefore, it is not very certain what will happen with GSTP once the promotional effect get fully exhausted.
