Soul and Vibe Interactive Inc. (OTCBB:SOUL) Spikes On Pump
Just before the weekend the stock of Soul and Vibe Interactive Inc. (OTCBB:SOUL) showed some signs of life and once again placed among the top traded companies. They opened with a gap up and went to an intraday high of $0.41 but closed a bit lower at $0.39. This was still 27% higher than the previous session. Investors were quick to react and the traded volume of 880 thousand shares more than tripled the average amount for SOUL.
Unfortunately this positive movement didn’t come as a result of some major news released by the company who has been silent for two months now. The latest press release was from August 1 and talked about the 1-for-3 reverse split. Since then the stock has been crushed to the ground and has lost more than 90% of its value. The company is also quite fond of using paid pumpers in order to boost their stock performance and this time is no different.
A couple of email touts were distributed by affiliates of Blue Wave Advisors and Sherwood ventures. StockHideout, SuperStockTips, LightningStockPicks all disclosed receiving compensation of $25 thousand for their marketing services. And actually the promo emails are quite indicative of what SOUL has to offer – almost nothing. They are filled with general statements about the video games industry with the only fact mentioned about SOUL being the background of their CEO who has several published games.
Looking at their financials makes it quite obvious why the promoters tried to talk as little as possible about the company. For the quarter ending June 30 SOUL had the following results:
- $10 thousand cash
- $14 thousand total assets
- $212 thousand total liabilities
- ZERO revenues since inception
- $150 thousand net loss
The current artificial hype is unlikely to create a more prolonged upwards trend so be careful when trading their stock.
On Friday the $3 million pump for Alkaline Water Co, Inc. (OTCBB:WTER) crashed by 20% after four straight days of climbing which put the stock back at $0.68. On the other hand the Awesome Penny Stocks current pick – Pacific Clean Water Technologies, Inc. (OTCMKTS:PCWT) had a positive session and rose by another 13% to $0.25.