Dolat Ventures Inc (OTCMKTS:DOLV) Moves Like a Pump Job
What trades zero shares in five consecutive days, then suddenly shifts over 10 million shares in one day and moves up and down the charts in triple-digit percentages, all in one session, for no apparent reason? The answer to that would be Dolat Ventures Inc (OTCMKTS:DOLV).
Yesterday Dolat’s stock opened up, then pulled off a stunning 525% run to an intra-day high of $0.075 per share. The price movement over the session looked exactly like a stock pump that runs for a while, then caves in on itself. After DOLV hit those highs, an hour and a half after the opening bell, things took an ugly turn and the price slipped 77% from there, to close at $0.016 per share.
So what was the reason for this sudden spike in interest? A perfectly understandable question, which must, sadly, remain unanswered. There were a small number of promotional emails but they came shortly after the opening bell, when DOLV was already up and moving and shifting volume, so it looks more like the pumpers jumped on this one for free, just to prove they can recommend a stock that actually moves up once in a while. The hastily thrown together promo emails mostly recommend DOLV because it’s a company that wants to mine diamonds and gold and that is, obviously, exciting.
There have been no press announcements coming from the company for multiple years. The last filing arrived in July and revealed some numbers which might have given traders pause in yesterday’s session if they took the time to scan through them:
- $280 (two hundred and eighty US dollars) in cash
- $412 thousand in total company assets
- $364 thousand in current liabilities
- ZERO revenues
- $692 thousand in quarterly net loss
The same report states that the company is in the early stages of acquiring diamonds. Those are some mighty early stages indeed, considering the balance sheet figures and the complete lack of cash to fund operations and lack of any historical revenue generation.
One thing is certain – everyone who tried getting into DOLV while it was running hot in the morning hours and failed to sell before noon is now sitting on considerable losses. The same cannot be said about the “unrelated third party” that got 18.5 million shares at $0.001 apiece sometime in DOLV‘s fiscal 2013, as the latest quarterly describes.
