REE International, Inc. (PINK:REEI), a rare earth exploration company, is no stranger to paid pumps, although historically they haven’t worked out too well. Today there is another promotion and some news which could affect the market.
Yesterday, an unusually high number of shares were traded – approximately 1.4 million. At the end of the session REEI closed down 11.76% at $0.03 per share. There was an iHub user bent on pumping REEI.[BANNER]
As far as we can tell, the press release wasn’t issued before the close, so its influence, if any, could be felt today. Additionally, there seem to be some promoters working on this one.
Stock Digest Report has been paid $60 thousand to pump REEI. The pump email is focused on the press release.
While promoters and pumpers would have potential investors believe the news is huge, the fact remains that there is no clarity if there is anything commercially valuable on the newly acquired property.
Thomas Mackay, CEO of REEI, claimed the management was determined and dedicated to being transparent with shareholders, but REEI is still on the Pink Sheets and the latest financial data comes from a quarterly report for Q3 of 2011.
It’s hard to say what can happen today with the promotions and news, but REEI is far from a stable investment.
