Yesterday, the stock of Lighthouse Petroleum Inc (PINK:LHPT
, LHPT message board
) broke the record for volume traded this year. The huge demand for company's stock was not supported by an expected increase in price.
LHPT stock opened at $0.03 per share, but following the chilled enthusiasm of investors, at the end of the trading day, the shares had lost 13% of value.
Investor interest in the company's shares rose on Friday without any announcement of important information related to LHPT's development. The only news is from February, when LHPT appointed a new CEO and announced the relocation of its corporate offices to Dallas, Texas.
LHPT's year end unaudited report shows that the company is still in the development stage, with no income from its main business.
At the same time, since yesterday, Lighthouse Petroleum Inc. started a promotional campaign. The stock is promoted by Penny Stock Chaser, the promoter of companies like Attitude Drinks Inc and Bonanza Goldfields Corp.
LHPT stock was already promoted in May of last year. The chart here presents the price corridor in which there was a possibility to lose 50% of money invested in LHPT shares.