Yesterday, Smart Holdings Inc (PINK:SMHS) scored an exceptional jump in the trading volume. While the stock’s average daily volume is estimated at around 1.4 million, SMHS generated a volume of approximately 160 million shares. At the same time SMHS opened the session with a huge gap and then headed mercilessly downwards.
If some investors can recognize a promotion in the intraday chart configuration, then they are right. The stock was promoted by Penny Stock Ace yesterday immediately after the start of the trading session. Unfortunately, the disclaimer did not specify if the promoter received compensation for the service or not.[BANNER]
Indeed, the promotion worked out as far as the volume and price surge are concerned. However, the intraday graph showed that few of those who entered the promotion yesterday were able to make a profit from it as SHMS headed straight down after the gap.
In fact, so far this year the company has attracted the attention of the market only when it was in the spotlight of promotions. On the whole, SMHS had underwent 3 promotions until now, but it is still not clear if the company has made its mind about what it will do to generate income and profit.
For at least the signal for the coming day is discernible. The stock made a huge jump on nothing more but a promo letter and during the last session the power of buyers progressively declined. Trading activity also declined with the approach of the session finale, which can put a final stroke in the picture of the following trades.
