The shares of Ludwig Enterprices, Inc. (PINK:LUDG) skyrocketed by a staggering 525% yesterday after the subscriber based radio broadcasting company introduced a novel technology giving users instant access to social media contacts while in close proximity to each other. Surprisingly or not, LUDG’s jump has just unleashed a massive promotional campaign.
Yesterday, LUDG came in at $1.00 per share, surging 525% in value, on a volume of approx. 70,000. Not bad for a company which has become notorious for its large-scale reverse splits. The last one in particular came into effect on May 3 when investors got one new share for each 350 shares they owned. What is more, LUDG had already carried out a couple of 1-for-100 splits in 2009 and 2011, respectively.
So, when LUDG made a third attempt to make its stock look more valuable than it actually is, it was in vain again. Prior to yesterday’s session, you could buy LUDG shares at $0.16.
Nevertheless, the company seems to have found a potentially lucrative market niche by introducing its patented TheOne(TM) radio – a digital radio receiver. The receiver is also expected to be fully compatible with Apple(TM) iPod docking stations. The approach to LG Electronics, Inc. for the manufacturing of the receiver’s main component also raised traders’ interest last week.
As long as LUDG succeeds in offering a commercially viable product on the market, its stock will stand a good chance of enjoying sustained growth on the charts, paid pumping notwithstanding.
