The name Viking Minerals, Inc. (OTCMKTS:VKML) should be familiar to most traders dealing with pennystocks. The company was the target of multiple paid pumps for the last couple of years with the last one taking place last May. VKML‘s own PRs about multy-million acquisitions and agreements also failed to materialize into anything more than words exactly as we warned investors in our articles. With zero assets and no operations the stock was left to drift down on its own dropping well into the double zero price ranges on sporadic trading.
This month though traders’ sentiment towards the stock has changed dramatically and in a little more than three weeks VKML
has run from its 52-week low of $0.0015 to $0.08 as of last Friday. In fact the stock has closed in the green for six sessions in a row now. Last Monday investors managed to shift the almost record number of 34 million shares.
We have seen quite a few pennystocks that were largely forgotten by the market display similar runs thanks to the massive influence of the marijuana hype. For now there have been no official announcements about a possible switch to the green plant industry but that has not stopped traders from speculating.
‘s resurgence began on March 5 when an 8-K form was filed revealing that on February 26 the CEO Mr. Charles Irizarry resigned and Mr. Robert Coleridge was appointed. Since then investor forums have been buzzing with all kinds of rumors and speculations. Mr. Coleridge has been a prominent figure in the software industry and for 12 years has been a Senior Software Design Engineer at Microsoft.
Lately though it seems he has shifted his interest towards the emerging marijuana sector being the President, Secretary, Treasurer and Director of Indie Growers Association, Indie Growers Union and Budbay Inc. Last week Horizon Minerals Corp. (OTCBB:HZNM) entered into a letter of intent with the private company Boomchat, Inc. and as part of the agreement Mr. Coleridge will assume the roles of CEO and Director of the company.
With no official updates VKML
upwards trend has been supported only by hype. On its own the company is nothing more than a shell that also boasts a history of paid promotions. Do your own due diligence and be extremely careful when dealing with the stock in order to avoid any unnecessary losses.
Another former Microsoft employee – Mr. Jamen Shively has decided to focus on the marijuana industry and co-founded Diego Pellicer, Inc. Last month he was also appointed to the board of directors of Plandaí Biotechnology, Inc. (OTCMKTS:PLPL
) after the two companies signed a branding agreement.
In early trading today VKML
opened with a gap up and are currently trading for $0.9 while PLPL
is continuing its slow descent and is 2.5% down at $1.16 per share.