If you’re wondering what happens when a company is promoted constantly and doesn’t deliver anything in the way of monetary gains, you may take a look at Here Enterprises Inc (PINK:HRTE).
Yesterday, HRTE dropped 18.18% to close at a new low of $0.0081 on 551 thousand shares. As you can see from the chart, the price has been slowly but steadily going down for a while now.
There seems to be a new promotional campaign for HRTE. The promoter disclosed a $5 thousand compensation for a week of service. The thing about promotions is that they tend to lose their effect when repeated often without substantial results on the operational side.
Investors could be disappointed for another reason too. HRTE is supposed to be primarily a clean energy company. However, the press releases and promotions would suggest the developments are mainly connected with the motocross park subsidiary of HRTE.[BANNER]
On Friday the company filed an 8-K concerning the appointment of George Russell as the company’s CFO. Yesterday’s performance may suggest that traders aren’t impressed.
Of course, it should be pointed out that the potential for growth is still there. If HRTE manages to get some significant progress on the clean energy side, the current lows could provide for some significant gains.
For now, however, that’s a big “if”. With all the promotions, HRTE has gotten the attention of traders. What the company needs right now may be some significant business development.
