After the Nov. 30 promotion-driven performance, Revolutionary Concepts Inc. (PINK:REVO) lost all it had gained in a single session.
Yesterday, REVO plummeted 54.29% to $0.032 on 2.1 million shares.
In all fairness, whoever lost money on REVO hardly has anyone to blame but themselves. Even the most basic attempt for doing due diligence would have shown the company is nowhere near ready for a significant move up.
On Nov. 30, REVO issued a press release saying the company had completed the “Definition Phase of the Schedule of Work.”[BANNER]
Even for those who had chosen to skip the due diligence part, it should have been a good enough hint as to where REVO is. The Form 4-s showing the CEO and President selling shares were also filed in a timely fashion.
This is just another example of how important it is to do your due diligence, and some of those who did it may have made some money on yesterday’s move. However, it is more likely that the people who were behind the promotion were the only ones who made a profit.
