Pumps Officially Over for Red Giant Entertainment, Inc. (PINK:REDG)

2REDG_chart.pngThe entire Internet trader population has pretty much figured out Red Giant Entertainment, Inc. (PINK:REDG) is a pump job by now, if discussion boards are any indication of awareness. After closing at precisely $0.03 or 6% down on Friday, REDG stock is once again sliding down a grease-slicked incline in early trading.

Offshore promoters Victory Mark have officially abandoned ship and left REDG all alone. After promotional emails from Victory Mark’s children, Select Penny Stocks and Penny Stock Heroes, stopped coming on March 12, REDG went mostly silent as well. Now the promoters have a new best friend in the face of Goff Corp. (OTC:GOFF), and it seems they will be engaged pumping this one for a while.

The company’s last effort to spruce things up with a press release in the absence of promoters fell through as well. The announced publishing deal turned out to be REDG hyping what could hardly be regarded as news, as the printer turned out to be a company founded by REDG‘s CEO and one that has been partnering with Red Giant for quite some time.

We monitored REDG and the email pump campaign as it unfolded, and warned our readers while they still had a chance to hop on a lifeboat and avoid a nasty loss. Hopefully, some managed to see the red flags blowing in the wind on time.

50REDG_logo.jpgWhat remains to be seen is how Victory Mark and its offspring intend to pump GOFF, with a track record consisting of three pumps in a row that failed horribly, namely PubCrawl Holdings, Inc. (OTC:PBCW), VuMee, Inc. (OTC:VUME) and now REDG added to the list. It seems, though, that the past performance of the pumpers makes no difference and they can push anything to the more gullible among traders, as REDG‘s rise and fall showed once again.

REDG is currently another 8% down in early trading, at $0.027 per share, roughly 90% down from the $0.20 pump spike.

Our only bit of advice remains the same – do your own research and don’t trade on hype and paid advertisements for any given stock.

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