Yesterday's session for CAVU Resources Inc. (PINK:CAVR
, CAVR message board
) suggested that the press releases and the promotions could have already lost their effect on the trading of the stock. The share price down on a huge volume, but found support.
CAVR closed the market at $0.035 for a share on a trading volume of 1.34 million traded shares. This closing price represents a 12.5% decline from Wednesday, and although there are still some more established support levels which could stop the fall of the share price, it looks like today's session may also result in a lower closing price.
CAVU Resources is still not making any material information public, it keeps getting promoted instead. Yesterday, we received new promotional e-mails, one of which even advertises CARV as a company with solid fundamentals and its stock as a long-term play. The e-mail end up with a compensation disclosure - $10,000 for one month of coverage. Due to the lack of any financial reports, all the promoter's statements could only be based on the many press releases that CAVU issued periodically.
One came out yesterday as well. It said that certain subsidiaries of the company have completed the merger into FILO Quip Resources, LLC., and that the company's shareholders are expected to approve a proposed spinout of the newly merged subsidiary CAVU Energy Services, Inc. which would after that become a separate public company.