Tootie Pie Company, Inc. (PINK:TOOT) has been sliding down since the beginning of the month. Apparently, the stock had decided to part from its resistance and over the course of several weeks it went down from $0.45 to $0.36.
In fact, TOOT several times touched an intraday low at $0.3 and once even touched $0.25 during its intraday performance.
Trading volume has not shown any specific break outs as well. Except for the last session, TOOT has been traded below the daily average for the last ten days.
On the last trading session, TOOT share value declined 8% to $0.36 on a volume of 30,000 shares. This is two times higher than the daily average.
The short volume data which was published by FINRA indicated that 2,075 shares were exchanged by shorters. In other words, the short volume had reached 7% of the total volume generated for the day.
The increased trading activity can be attributed to the promotional newsletter which was spread out by Small Cap Voice shortly after the start of the trading session. The disclaimer of the newsletter was not specific about whether the promoter had been compensated for the profile, nether was there any information about any third parties involved.
