After a long-term uptrend, Sunpeaks Ventures, Inc. (OTC:SNPK)
crashed down at once. Yesterday, the stock lost 58.52% of its price, while its traded volume exceeded the phenomenal 80 million shares.
Historical data shows that the uptrend was due to the series of positive news and promotions on Sunpeaks. However, what is more peculiar here is that the stock cut off the climb despite promotions.
The campaign was held on April 17 - 18 and cost $15,000 in total. However, even the alerts failed to pump up SNPK stock price and it crashed down hard. So, what's next for Sunpeaks and is it going to get back on track is just a matter of time to be seen.
Sunpeaks Ventures, Inc, and its wholly-owned subsidiary Healthcare Distribution Specialist, LLC, is a nationally focused, value-added distributor of specialty drugs and over-the-counter branded multivitamins to the healthcare provider market. The last news by the company came up yesterday when SNPK and its subsidiary HDS reported that they have entered into a Binding Letter of Commitment to participate in a Vendor Participation Program with the Philadelphia Soul, a professional football franchise in the Arena Football League.
Pursuant to the agreement, in exchange for cash consideration of $8,000 SNPK will have in-store promotions in approximately 60 Walgreens stores in the greater Philadelphia area.
Apart from the positive news lately, the records show that SNPK has been often pumped up by stock alerts, which projected great success to the company's product Clotamin. Some of the alerts were paid by Sunpeaks itself, apparently to support its stock price.
As of December 31, 2011, Sunpeaks reports total assets of $10,000 and current liabilities of $214,000. While at the same time, the company has no current source of revenues and generates negative cash flows.