How Long Can Puget Technologies Inc (OTCMKTS:PUGE)’s Upward Run Continue

[[tagnumber 0]][[tagnumber 1]]Recently we have had all the reason to cover Puget Technologies Inc (OTCMKTS:PUGE). The company stock exploded on the OTC scene in the beginning of this week after spending most of the year so far in oblivion.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]For no apparent reason we saw the ticker make large percentile movements in an upward direction that were accompanied by a massive increase in daily volumes. All this was rather strange considering the fact that the company hadn’t issued a press release in months, wasn’t promoted and the numbers in [[tagnumber 6]]PUGE’s[[tagnumber 7]] financial report for the quarter ended April 30, 2015 looked like this.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $51,936[[tagnumber 13]] [[tagnumber 12]]current assets: $51,936[[tagnumber 13]] [[tagnumber 12]]current liabilities: $1,116,902[[tagnumber 13]] [[tagnumber 12]]revenues: ZERO[[tagnumber 13]] [[tagnumber 12]]net loss: $250,694[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And while these numbers are pretty terrible we saw [[tagnumber 6]]PUGE[[tagnumber 7]] continue to climb the charts in the following sessions. Yesterday there was a bit of hesitation about an hour into the session and we might have witnessed the first red close since the beginning of the week.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company, however, stepped in and announced the launch of their redesigned website. This managed to provide some uplift for the stock and we saw [[tagnumber 6]]PUGE[[tagnumber 7]] add another 21.95% to its value, closing the day at $0.10. As the ticker was heading for the 10 cent mark we saw 3.8 million shares changed their owners and generate $348 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It seems, however, that there might be a lot of disappointment coming. Since today’s market open [[tagnumber 6]]PUGE[[tagnumber 7]] has gone down 49% in value and there are really not a lot of things that could make the stock end the session green. At best, investors can hope that the blow will be less severe, but we wouldn’t count on that.[[tagnumber 2]]