Black Stallion Oil and Gas Inc. (OTCMKTS:BLKG) Gets Knocked Down Even Further
Black Stallion Oil and Gas Inc. (OTCMKTS:BLKG) lost 11.76% of its market cap yesterday, and by the look of today’s opening, the upcoming session is going to bring it even further down the charts.
And how can it not do so? At the end of the day, that’s the fate of all tickers targeted by massive pumps – they flare up, a lot of shares change hands over a relatively small period of time, then they simply die out, returning to obscurity until the next time.
BLKG had a volatile ride. A lot of people managed to make a lot of money trading it – and since the ticker is still over the $0.5 line, there’s a possibility that traders may make some more money out of it in the next couple of sessions.
And even if the ticker plummets further down, people who bought those 20 million shares of common stock at $0.00245 a pop more than a year ago will have made tremendous profits. Could it be that this was the point of the whole pumping ordeal?
Investors should make no mistake – BLKG is going down hard, and at this time it doesn’t seem like anything can stop its descent. At this point in time, it doesn’t even look likely that it will be able to make a dead cat bounce before ending up in pennyland obscurity – which, according to its results, may well be where it belongs.
Let the buyer beware.