The alerts had huge impact on the share price of SMHS stock, just like at the end of September last year when the stock was advertised as a new player on the public market. This time, the action is taking place in a much lower price channel, which however the promoters use as an argument to promise a 2,000% bounce off to the high at $0.3.
More details being mentioned in the alerts include Smart Holdings’ business to provide insurance products and “Extended Auto Service Coverage”, aiming at a trillion dollar market with constant growth and secured profits. As reported already back in September, the fundamental base for any jump up of SMHS share price is completely missing. The company’s common stock is no longer registered with the SEC since last July, and respectively no reliable financial reports are available to certify that Smart Holdings has any assets or operations.
Thus, the more important for traders details are that one of the promoters received $5,000, another one got $15,000, both being paid by one and the same third party. Even if the stock delivers some more gains on the short-term, if nothing changes in the fundamentals long term it looks like SMHS can only go further down into the price range of the sub-pennies.
Yesterday, the share price of SMHS stock jumped 36.36% and closed the session at $0.027. Trading volume was almost 20.24 million shares, again with the significant participation of the shorters who made up one quarter of the total volume.
