Trio Resources, Inc. (OTCBB:TRII) Crashes Hard While Promoted
The stock of Trio Resources, Inc. (OTCBB:TRII) hasn’t been doing good for a while now. The ticker is regularly undergoing paid promotions and the recent one was such a failure that we can’t see how TRII may attract new investors.
It seems that everybody is trying to get off the boat while they still can do so with minimal losses. This is most evident by the massive amount of traded shares in the last 2 days before the weekend, which were 8-9 times bigger than the stock’s average.
After sliding down a mere 5.65% in value on Thursday, TRII experienced a harder blow in Friday’s session as they lost a hefty 30.42%. The massive 8.1 million shares that switched hands managed to generate a decent $218 thousand in dollar volume.
Considering that the company itself is doing all in its power to aid this months promotional effort which was worth at least $48 thousand in compensations to different promoters, we reckon that the ticker will continue to slide down.
The optimistic press releases speaking of developing exploration plans and an agreement to process $40 million worth of previous metals with Noble Refinery, a division of Noble Asset Management GmbH Switzerland over the course of the next 2 years didn’t manage to turn the tides.
Today, TRII is starting this week even worse, with a massive 4.1 million traded shares to this moment and a further 24.73% drop in price.
In any case, be sure to do a lot of due diligence and weigh out the risks if you have any thoughts of betting on this particular stock.
Lightwave Logic, Inc. (OTCMKTS:LWLG) also had a bad ending of the past week, as they slid 18% down in price. Makism 3D Corp. (OTCBB:MDDD) on the other hand, had a little bit of a breether after the two huge drops in price and gained a decent 35% in value.