Solo International Inc. (OTC:SLIO) Crashes on Canceled Pump
No one believed black swans existed before they saw one, just as nobody would expect an upward trend in a stock end dramatically even before it began. In the past two days, the stock of Solo International Inc. ( OTC:SLIO ) doubled and then erased the gains, prompting an end to its paid promotion. The move was so sudden and unexpected that the company issued an explanatory press release, stating it was unaware of any events that could lead to a 59-percent fall in a single trading day, on relatively low volume. It seems that the cause for this is the cancellation of the stock promotion by Preferred Penny Stocks, an unusual move that cost some buyers their whole investment. The third letter in a short-lived campaign stated that the cancellation was due to "activity that is out of our control" and happened on a day when the stock jumped from 7 to 10 cents. The next day, SLIO closed down at 4 cents. With around 150 million shares buying volume and just 25 million in selling, the holders are left with deep losses on a stock mostly untraded outside the time of a promotion. Beyond the email hype, Solo International is an exploration stage mining company searching for rare earth elements deposits in Canada. For this aim, it holds the following financial data: $ 46,677 cash No revenues $50,434 operating loss The company dilutes its stock by issuing new shares for cash, and there is further danger of dilution as SLIO holds a convertible bond. The stock climbed to 24 cents at the beginning of the year on heavy promotion and repeated the climb in spring. While those promotions came with lower price tags for single-day email profile on the SLIO stock, the most recent pump that got canceled began with a $500,000 budget. [BANNER] The last pick for Preferred Penny Stocks, Pac West Equities Inc. ( PINK:PWEID ) managed to hold on to a growing trend, despite warnings that the company was a shell with very little true activity. PWEID stock jumped 17 times after a split, but is yet to show a turning of the trend as the promoters go silent. Despite the possibility for pure hype to drive a stock, it is best to hold off investments and do all the due research before making investment decisions.
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