Yesterday, Shaka Shoes, Inc. (PINK:SHKZ) broke up the serial gain. After three days of massive trade, the stock lost 27% of 
its price on a traded volume exceeding 2 million shares. The question is, why?
The most interesting fact here is that SHKZ fell down despite being promoted. The campaign started on May 26 and yesterday it was still on, but the stock cut off the climb. Now everyone is curious if SHKZ will get back on track.
In any case, it appears that there is not much news about Shaka Shoes, apart from the promotions. Actually, the company has been absolutely quiet since last September till yesterday, when it reported changes in its management and its completed audit. The announcement stated that Shaka will now file its quarterly and yearly reports with the SEC once its filings are ready.
The news concerned the trading restriction set by the Pink Sheet Markets to Shaka Shoes about a year ago. According to the OTC Markets, the company was banned from displaying quotes on its website because it has been labeled “Buyer Beware” due to a number of risk factors mentioned on the web. Now, Shaka claims it is going to file its reports again, though it is still too soon to see the proof.[BANNER]
Meanwhile, it seems that the only thing that keeps the company’s market position secure are promotions. Though, no once can say how long they will continue.
Shaka Shoes, Inc. claims to be an eco-friendly, innovative designer, manufacturer and distributor of branded casual footwear. However, currently there is nothing more to be said here, as there are neither any filings, nor any other news about SHKZ since last year. Maybe this is the main reason the OTC Markets website still keeps its “Buyer Beware” label online, while Shaka relies on promotions only.
