One step ahead, two steps behind. Has this scenario ever occurred to you? If not, read the lines below as we expose a penny stock that has been doing just that as far as its promotion-driven market performance is concerned.
Yesterday, the stock of Solar 3D, Inc. (OTC:SLTD) got promotional coverage by BlueWave Advisors. Again. For the company had previously been promoted by the same organization on Sept. 13 and Mar. 20, respectively. So, what do the three promotions have in common and what distinguishes them?
To begin with, each subsequent promotion starts at a lower price base, as seen on the accompanying chart on the right. SLTD gained 33% on Sept. 33 coming in at $0.26 per share, then quickly slipped into oblivion and lost a large part of its market value. On Mar. 20, the scenario was slightly worse as SLTD registered a first-day gain of 28% closing trade at $0.083, i.e 68% down from the previous pumping effort. Yesterday’s campaign, by contrast, yielded the worst results. By the end of the session, SLTD had lost 1% in value, which led to a closing price of $0.0495 per share, down 40% as compared to the previous promo.
Even though the first two awareness campaigns brought about some decent first-day gains for SLTD, they melted away quickly afterwards. The latest promo could not even score a positive first-day result.
If you take a look at how other penny stocks which got promoted by the same group of promoters subsequently performed on the charts, you will most probably notice a rather definitive (and recurring) pattern. Take the stock of Microelectronics Technology Co. (PINK:MELY) for example. When the Lightning Picks, a subsidiary of BlueWave, got paid $25 thousand to give MELY a boost on May 10, we all know what happened to the company’s market value in the aftermath of the event. See the underlying chart for reference.
