American Liberty Petroleum Corp. (OTC:OREO
) has already been featured in a large number of promotions
, and even though the latest pump attempts failed miserably, another one is coming today
In mid May OREO took a serious dive over several sessions losing more than 50% of its value. A $40 thousand promotion around May 28 did little more than bring volume to the stock, although it may have helped to stabilize the price.
Last Friday OREO closed flat at $0.345 per share, but the volume was lower than the average.
Pump mails saying "OREO's done with its dip" started coming in yesterday evening. The promoter disclosed a $25 thousand compensation paid by Winning Media. Additionally, an iHub promoter revealed a $12.5 thousand compensation for OREO, paid again by Winning Media.
It has been about ten days since the last pump attempt, but there hasn't been any significant development around OREO to support a meaningful bounce back.
The company issued a press release on June 5, but it didn't have a lasting effect on the market. There is a theoretical chance the pump effort could affect trading today, but unless the company provides some sensational update, it's unlikely OREO shareholders will get to enjoy a positive price change.