Chancery Resources, Inc. (PINK:CCRY) Keeps Up the Climb
In the past ten days, Chancery Resources, Inc. (PINK:CCRY) managed to keep its climbing trend, with buying still overcoming the impulse to sell. On Wednesday the ticker went up more than 15% to $0.0044, rising nearly 4 times since the beginning of March.
As we recall, CCRY is a company with very little solid reserves, per its financial filings:
- $87 thousand in ‘checking’ assets
- $150 thousand current liabilities
- $181 thousand total income
- $8 thousand net loss
But the recent spikes were supported by a constant flow of press releases and a new promotional campaign sending out emails every few days. The latest message is from March 11th, and this was followed by a press release stating CCRY started a business with domestic laundry technologies. The company also announced it would change its name to AirTrona International, Inc., although no date was given for the switch.
The pumpers took up CCRY again after it reached $0.0013, a low that followed the previous pump. In the past the ticker has reached 7 cents, but in 2013 it remained solidly in the double-zero zone. This time, the emails came from Wall Street Buzz, with a relatively low compensation of $4,500. But it seems this promoter may be onto new and more attractive things, as it went with a new ticker, Souther Products, Inc. (OTC:SNPD). This ticker trades up and down and it is uncertain if the promotion will take it on a trend or will just cause a series of speculative day-bets.
The previous mailing for CCRY on March 8th came from Stock Hideout, with a $6,000 price tag, also a one-off event. Both days when the emails landed propped up the stock significantly, with good buying volume. The next few days will show if CCRY is more serious in its efforts to scale new heights or if the campaign will end, to let the ticker crash or drift sideways. In the case of a long-term promotion, such as the one for CCRY, it is best to realize most stock movement coincides with emails, rather than the true promise of the company’s business. We will be tracking CCRY in the next few days to notice how thins may develop, so nobody will have to cry over this blatant pump when the price is beaten down again.