When the managerial body of Spectrum Acqstn Hldgs (PINK:SPAH) decided on a reverse stock split in early-October, this move was clearly aimed at improving the value of the company, as well as attracting new investors. Four months later, the initiative does not exactly appear to have borne any fruit, thus opening the door to new pumping efforts.
Yesterday, SPAH closed trade at $0.0229 per share, up 14% from last Friday when SPAH lost 14%. A total of 3.3 million shares of common SPAH stock changed hands, which is considerably higher than the average daily trading volume of 2.5 million. Although SPAH practically regained what it had lost the day before, it is still unable to break the negative trend it has been following since mid-December.
That is why, the newest paid advertising campaign in support of SPAH stock has hardly come as a surprise. A couple of promotional emails worth a total of $40 thousand started invading investors’ mailboxes last night with the invasion being expected to continue throughout the week. While this is hardly the first promo SPAH has been involved in, traders’ hopes for a huge breakout are still very much alive.
The latter could still happen, as long as SPAH succeeds in making substantial progress with the green mining technologies which are currently under development. Otherwise, SPAH’s market behaviour will remain highly dependent upon paid pumping schemes such as the latest promotion we have just talked about.
