iTalk, Inc. (OTCBB:TALK) Is the New GNIN
iTalk, Inc. (OTCBB:TALK) has been one of the most actively traded stocks on the OTCBB in the last week or so. It seems TALK may be the new pump of the people who touted Green Innovations Ltd. (OTCBB:GNIN).
In just 10 sessions the price of TALK has gone up more than 100%. Yesterday it closed up 9.68% at $1.36 per share on nearly 1.8 million shares.
Investors Alliance and the other newsletters in the group behind the GNIN pump haven’t announced TALK as their official pick, but an email from May 4, and the market performance of the stock, lead us to believe that this is the case.
While the email itself doesn’t mention TALK at all, the disclaimer links to this page. Note the URL contains “talk_disclaimer.”
The usual signs of a pump job are also present with TALK. The stock hadn’t been traded until Apr. 25, the company has a limited operational history, nominal assets and no reported revenue, and there was 25 for 1 forward stock split effected before the stock had started trading actively.
Just like GNIN, TALK has been issuing a lot of fluff press releases, which can potentially create enough hype to attract attention and paint a picture of a bright and successful future. At the same time, the only official financial report the public gets to see at this time is for the quarter ended Feb. 28.
The fiscal year end for TALK is Aug. 31. Conveniently, this means the next report isn’t due until mid-July, and speculations can run amok for a while before they have to clash with reality.
In the case of GNIN, the next report is due in about a week. When it’s published traders will get to see what’s the real situation at the company.