Yesterday Digagogo Ventures Corp (OTC:DOGO) was the object of a massive promotional campaign which was visible by the huge trading volume generated during the day.
At the end of the session nearly 1.7 million shares of DOGO common stock were traded. This was a mere volume explosion as the trading activity was 86 times higher than the daily average.
However, while the volume was rising the share price was declining. DOGO opened the session with a gap at $0.08 and in less than an hour the stock hit an intraday high at $0.12. It was not long before the stock price dropped down to its previous close though and near the end of the session it plunged down to an intraday low at $0.061.
Eventually DOGO finished at $0.065 or 7.14% lower than the previous close. The sharp spike at the beginning and the plunge at the end of the session along with the increased trading volume were indicative of promotional influence.
The fact is that several websites owned by Blue Wave Advisors started spreading out newsletters on DOGO after the start of the session. The promoting mogul disclosed that he was hired by a third party called Legacy Global Markets to conduct advertising and promotion for DOGO. The compensation for this service was $17,500.
