Is GNCC Capital, Inc. (OTCMKTS:GNCP) Headed for The Triple Zeros Again
After GNCC Capital, Inc. (OTCMKTS:GNCP) announced last week that they will start providing news on current development more often, the company stock began to climb the charts vigorously and went a massive 633% up in just 4 trade session.
As the ticker left triple-zero land the volume of traded stock also skyrocketed and went into the hundreds of millions, but it had to come to an end at some point in time. That point in time came yesterday and the drop was bad.
GNCP started descending the charts immediately after market open and by the afternoon things turned sour. Some of the people holding shares became pretty nervous and a dumping fiasco pushed the stock’s price so deep it couldn’t recover.
In the end of the session the recorded net loss was a hefty 54.55% and GNCP closed at $0.001 per share. A massive 487 million shares had switched hands and generated $608 thousand in dollar volume.
The press release with which the company informed investors they will be hiring 2 geologists in order to assess and accelerate the development on certain of their existing mining exploration properties also didn’t work and we reckon that the ticker could be getting back to triple-zero prices pretty soon.
In fact, they are already there, as GNCP is already 20% down in today’s session. Will the stock manage to regain some value until the end of the day and remain above $0.001 is for time to tell.
Also, having in mind the dire financial state of the company, which we discussed in our previous article, we would advise you to do a lot of due diligence and weigh out the risks, before deciding to take the bet.
Pan Global Corp. (OTCMKTS:PGLO) also had a dreadful session yesterday as their stock dropped a hefty 39.85% in value on a high volume of traded stock that generated $2.7 million in trade value. Elray Resources, Inc. (OTCMKTS:ELRA) on the other hand registered a good 63% up.