Echo Automotive, Inc. f.k.a. Canterbury Res Inc (OTC:ECAU
, ECAU message board
) closed in the green a second session in a row after the dismal sessions on 30th and 31st of January. This is in line with what the two previous pump jobs of the same outfit did.
Yesterday ECAU closed up 11.69% at $1.72 per share on approximately 2 million shares. That's nowhere near the high of $3.24 on Jan. 29, and it's highly unlikely ECAU will get back up to those levels.
The real reason for ECAU to reach that high in the first place were the paid pumps. As mentioned in previous articles ECAU was featured in the publications of Providence Media Strategies LLC; namely The Bedford Report, Five Star Equities etc.
While those show that some money was spent on touting the stock, the real magnitude of the pump efforts can be seen in the disclaimers of hard mailers and some landing pages. This Chuck Hughes report shows that the budget for the ECAU pump was $3 million.
That's the same Chuck Hughes who was used to pump Stevia Corp (PINK:STEV) and Stevia First Corp (PINK:STVF). Both of those also bounced back after crashing, only to slowly drop below the dollar mark.
Even with all the information available, there will still be those who truly believe in the bright future of those companies. Do your own due diligence before you make up your mind about where ECAU's going.