Yesterday, Xinde Technology Co (OTC:WTFS) dropped 7% to $0.129 on a volume of 2.5 million shares, even though promoters still chant about the “possible huge opportunity” that lies in the stock.
On Tuesday, we reported that the company is once again undergoing a massive promotion. On that day the stock moved up nearly 8% to $0.139 on a volume of 7.8 million shares.
However, it was not the common investors that took the bait of the promotion the ones who profited from the stock surge. The intraday chart on Tuesday shows that WTFS started with a gap at $0.144, spiked for a short while to $0.155 and after that went straight down, giving no opportunity to those who entered the stock during the day to exit the stock without a loss. [BANNER]
WTFS continued to depreciate during the last session as well. Yesterday, the stock declined 7% to $0.129. Thus, it is obvious who benefited from the campaign and hopefully investors will learn to read the small font more carefully next time.
For example, here is is what one of the promoters says about Phoenix Creation Ltd who was the paying party in the campaign: “Clubpennystocks has not investigated the background of Phoenix Creation, Ltd, the hiring company. Anyone viewing this letter should assume the hiring party or affiliates of the hiring party own shares of Xinde technology Company (OTCBB:WTFS) which they plan to liquidate.”
Presumably, Phoenix Creation or affiliates still have shares to dump as the promotion is going at full speed as it is visible by the Hotstocked promotional section.
