Nutranomics, Inc. f/k/a Buka Ventures, Inc. (OTCBB:NNRX) Climbs On Strong Momentum
Although the paid promotion for Nutranomics, Inc. f/k/a Buka Ventures, Inc. (OTCBB:NNRX) ended more than a month ago and the last email alerts touting the company were distributed for free the attention towards their stock remains quite high. Out of the last 8 trading session NNRX has closed in the red only two times and yesterday they added another 11% to close at $0.74. Traders managed to shift 2 million of their shares which more than doubles the average amount for the company resulting in a total dollar value of $1.48 million.
The company is managing to fuel the hype around itself by issuing a new PR article almost daily. Since the start of the last week they have announced a new product supply and distribution agreement for Bangladesh, they acquired the North American rights for the Nutriband transdermal delivery system, revealed new ready-to-drink product named Collagen Enhancer and signed an agreement with Novascon Pharmaceuticals, a potential distribution partner for Eastern Europe.
Such activity is rarely displayed by the various pennystocks and it is no wonder that NNRX regularly places among the top traded OTC companies. Still, jumping in based solely on the hype is never a good decision. As we said NNRX has been involved with paid pumpers almost from the moment it went public back in September. The newsletters were affiliates of ECA Group and disclosed that they expect a compensation amounting to $60 thousand. Their previous pick – iTalk Inc (OTCBB:TALK) can serve as a cautionary tale dropping from above $2 per share during the peak of the pump to just 9 cents as of yesterday.
NNRX also have a research report created for them by Equities Expertise. In it the company is assigned a six-month target of $1.75 per share and a twelve-month target of $3.75. Such a high price ranges are not that surprising when you see the disclaimer at the end of the report. Apparently Equities Expertise were paid $25 thousand by Nugget Enterprises, LLC so be sure to take everything they say with a grain of salt. Not to mention that until the next financial report is filed we have no information about the current state of NNRX‘s operations, the actual sales figures and how profitable they truly are.
Yesterday the stock of Pan Global Corp. (OTCMKTS:PGLO) managed to add 5% to its value but the gains were negligible compared to the 39% lost on Tuesday. Due to the active touting going on for them at the moment PGLO might be able to climb a bit higher but playing a pump that has already crashed twice is quite risky.