Since the beginning of last week, Winland Ocean Shipping Corp (OTC:WLOL) has been steadily climbing up. The stock broke out on Wednesday last week and in a matter of five trading session the share price of WLOL jumped up from $0.3 to $0.466.
The value of WLOL shares increased due to a very active and expensive market awareness program which was also supported by a series of press releases issued by the company.
On Monday last week, we reported that a series of trade alerts had been issued on the company. Later that day, the trade alerts were joined by a promotional letter issued by Research Driven Investor which showed that a third party called reason Success Ltd had spent $350 thousand for a two-week investor relations campaign.
The disclaimer proved right as for the last ten days there has been incessant promotional coverage on the company. Apart from Research Driven Investor, the campaign was also joined by:
- Lebed who had been compensated $20,000 by Wall Street Grand LLC.
- The group of OTC Tip Reporter which had been compensated $7,500.
- The Stock Psycho with a compensation of $40,000.
As a result of the massive campaign, the trading volume of WLOL jumped up significantly as indicated by the stock chart. On the last trading, the number of shares which changed hands reached 590 thousand.
At the same time, FINRA reported that 282 thousand shares were exchanged in short transactions, which means that the short volume was close to half of the total trading volume.
Along with the torrent of paid newsletter, investors were also showered by several press releases in the past two weeks. On Monday this week, WLOL announced a new $28 million contract to transport steel products from the Black Sea to the Far East. On that day, WLOL finished 10% higher on a volume of 854 thousand shares.
However, once the wide market awareness campaign is over it is not sure whether WLOL will be able to sustain the achieved value. The loading produced by the promotion is very likely to transform into a correction phase which draws nearer with the outflow of trading volume.
