Press releases often manage to make the price of a given company on the OTC market rise. Westmont Resources, Inc. (PINK:WMNS) moved up before the news was out.
When the markets closed yesterday, the price for a WMNS share was $0.075 – a 8.70% increase on 252 thousand shares.
As already stated, a PR was issued by the company, but that happened at about 4 pm. While it is obvious the news couldn’t have provoked the increase, at least one possible reason for it is easy to find.[BANNER]
A third party compensated G6Stocks $20 thousand cash for a one-day profile of WMNS. The promotion is the new-wave kind, based on posts on message boards like this one on iHub.
While the gain wasn’t particularly impressive, it could prove to be a good enough setup for today. The PR from yesterday states WMNS has completed two out of four laboratory tests needed to start field usage of the company’s “FracSolv”.
With the third and fourth tests, expected to be completed on September 21, 2011, it is possible the reaction to the campaign and the PR will be limited. There is a chance, however, for the savvy traders to make some money.
