Alkaline Water Co., Inc. (OTCBB:WTER) Steps Back Again

Things are again hanging in the balance for the Alkaline Water Co., Inc. (OTCBB:WTER) as the ticker slid back below 50 cents, and eyes the weekend with one eye on a rebounce, and a possibility for a deeper correction.

WTER retreated only slightly on Thursday, losing 5.9% to $0.475 on dollar volumes above $1.02 million. The last two days, activity was subdues in comparison to the massive selling that caused two days of consecutive losses above 30%.

Despite the quiet promoters, the claims of WTER are being repeated again on investor forums- the familiar mantras about hydration and the huge potential of bottled water and soft drink. There seem to be less opinions about the fact that WTER was brought to its high price through a promotion worth $3 million.

To boost its publicity, WTER also points to its website, which surprisingly does not offer any way to purchase the actual products. The site offers some speculation that WTER could be eyed by big-time beverage industry players, but this is also a hypothetical event.

In a similar price range, here is what another heavily promoted company did- Bluforest, Inc. (OTCMKTS:BLUF) peaked at around $2, only to slide by more than 75% as the emails went silent. BLUF also had an extensive back-story, promising that it would start selling carbon offsets any time now. BLUF allegedly owned forest assets, and would be dealing with big European businesses to help offset their carbon footprint. But none of this materialized before the ticker fizzled out for lack of pumps.

And even solid, well-known companies suffer corrections, such as the deepening slide for Virtual Piggy, Inc. (OTCBB:VPIG), which has been in the red for a few days and crashed from the $2 levels it held for a while, to stand down to $1.53.

But WTER is much more about public relations, especially with new C-list celebrity Brande Roderick to lead its PR department. If you still believe WTER is capable of a smaller or larger bounce, keep in mind that this ticker reacts almost immediately to positive news. And the paper mailer may still land new households, adding fresh interest.

WTER has been trading actively only in the past month or so, with the $3 million campaign started at the beginning of August. While WTER may keep the levels, there is nothing preventing this ticker from fatigue and a slide into a lower range.