Calissio Resources Group Inc. (OTCMKTS:CRGP)’s Jump Didn’t Last

Calissio Resources Group Inc. (OTCMKTS:CRGP) dropped 11.54% yesterday, as it started to lose its momentum.

The ticker remained unstable throughout the whole session, twitching nervously between $0.0025 and $0.0020, before the final bell arrested its squirming at $0.0023.

This pull-back is the logical result of the dissipation of hype that pushed the ticker up in its latest PR-driven jump. Because, at the end of the day, CRGP rose on hype and hype alone.

True, the news that it has retired 77 million shares of its common stock was good indeed – however, the fact remains that it is left with another 243 MILLION. Less than a year ago, after its 1 for 200 reverse split, it had just 3 million shares of common stock – that’s a dilution of 8000%, even if you discount the shares the company just retired.

Still, even if investors choose to ignore the soul-crushing dilution, there are few positive things known about CRGP‘s current state. True, its financials looked good the last time it filed, but it should be noted that the filing in question covered Q1 of 2015. As such, it is more than eight months old, and severely outdated. Who knows how the company is doing right now? It might be doing good, but it is just as likely that it is struggling for air in the current heavy economic conditions.

Long story short – CRGP rose on hype, but now that heads have cooled and its hype is spent, there’s nothing to help it keep its elevated position.