North American Oil & Gas Corp (OTCBB:NAMG) Tumbled Again

Fueled by paid touts, North American Oil & Gas Corp (OTCBB:NAMG) has been on a wild roller coaster ride for the past five months.

Yesterday, after 6 consecutive sessions in the green, came the next tumble. NAMG opened with a gap up, but it only held for about 40 minutes, and a little after 12 p.m. the price dropped below $0.90. Ultimately NAMG closed down 12.25% at $0.895 per share, with nearly 1.3 million shares changing hands.

Unlike other pumped stocks like Nutranomics, Inc. (OTCBB:NNRX), NAMG hasn’t been very vocal with it’s press releases. In fact, the company has only published two updates since the whole thing started in July.

In the same time, however, a lot of different pumper outfits have been paid to tout NAMG. One of the names in the list which stands out is Tobin Smith and his NBT Equities Research. Mr. Smith used to work for Fox Business Network, but his contract was terminated in June, when the network realized Mr. Smith had been paid $50 thousand to pump Petrosonic Energy, Inc. (OTCMKTS:PSON).

The involvement of the same pumper doesn’t mean NAMG will have the same fate, but the performance of the company so far has been less than impressive. The company is low on cash and there’s no telling whether it will ever start generating revenues, let alone profits.

Earlier today we received another pump email, this time from Future Money Trends. This isn’t the first time the newsletter has been used to tout NAMG, and it’s not very likely it will be enough to turn things around. What the company really needs is solid business performance.