China Logistics Group, Inc. (PINK:CHLO) Soars Again, No Promo At Hand
China Logistics Group, Inc. (OTC:CHLO) scored an astonishing gain yesterday even though the promotional hype has been winding down for the last two weeks or so.
Opening at $0.0549, CHLO hit an intraday high of $0.85 before closing trade at $0.0785 per share, up 55% from its previous close. Thus, the stock built up on its 29% surge on Tuesday and currently looks poised for another chart run upwards. Does it have the potential, though?
Although we have not received any promotional emails in support of CHLO since Jan. 8, we highly doubt that promoters have nothing to do with CHLO‘s most recent chart moves. The lack of official corporate updates only adds fuel to our suspicions. What is more, some traders have already expressed concerns about a new campaign going on. Others have confirmed having already received new emails touting the same stock.
CHLO registered a historical surge on Jan. 7 when a group of promoters including but not limited to Stock Hunter, Liquid Pennies, Stock Brain, VIP Stock Alerts (all of them operated by Stock Appeal LLC), on the one hand, and SmallMovesBigGains, on the other, unleashed a full-blown promotional campaign to put CHLO in investors’ minds. Since they disclosed no details regarding the compensation and duration of the campaign, one could only make a blind guess whether the pump is still in effect or it has irreversibly subsided.
Unless CHLO comes up with some real news sooner rather than later, investors will most likely continue to attribute its high volatility to dubious pump plays such as the one that occurred earlier this month.