Polar Petroleum Corp. (OTCBB:POLR) Pump Slows Down
Polar Petroleum Corp. (OTCBB:POLR), arguably the biggest pump job currently active, slowed its second climb up the charts yesterday. Trading in volume comparable to the previous 21% gain session, yesterday POLR moved just shy of 5% up.
The promotion for POLR stock unfolded a little differently from most pump jobs. Instead of email promoters getting paid the exorbitant sum of $1.15 million that was blown on promoting POLR, the email dissemination was a low-compensation vehicle. The emails carried portions of the promotional material and linked to websites that hold the full advertisement for POLR.
Compensation disclosed in the promotional disclaimers of the web pages containing POLR pump materials has grown from $250 thousand, to $700 thousand and just recently – to $1.15 million. Currently there are at least two identifiable landing pages that host the promo material – one at hardassetreport dot com (disclosing $700 thousand in compensation) and another at alaskanoilrush dot com (disclosing $1.15 million). Not too surprisingly, a domain lookup for alaskangoldrush dot com reveals that it was registered on a fine afternoon four days ago.
After POLR‘s run from $2 to $4 per share, the stock took a dip but the reinvigorated promotion with an even greater budget managed to contain the slide, as some large pumps do. In light of the hilarious claims and allusions made in the promotional material, such as a price target of $20 for POLR stock, as well as a ‘bidding war’ between huge oil companies to acquire POLR, it’s a wonder the stock even managed to run as far as it did. The second burst of activity is slowing down and the pendulum may swing at any moment. The swing is inevitable, considering an entity named Commodity United Ltd. paid over $1 million to advertise POLR.
Strange as it may be, the high price of the stock may turn out to be a safety net for inexperienced traders who don’t really know how stock pumps work yet. With an entry point of nearly $4 per share, penny lovers may as well sit this one out, despite the ludicrous promoter promises of the stock gaining 1800%.
We already covered the financial details listed in POLR‘s latest filings and recent press releases in a previous article, which we encourage our readers to have a look at. One new email alert just landed, sent by Trader Central dot com, once again containing the $1.15 million disclaimer. There’s no telling how long and how far this may run before it inevitably crashes so traders should just be very aware of the large red flag that the huge promotional budget represents.