Georgi Kamburov

China Teletech Holding, Inc. (OTCMKTS:CNCT) Bombs After Pump

by Georgi Kamburov May 17, 2013
CNCTchart.pngChina Teletech Holding, Inc (OTCMKSTS:CNCT, CNCT message board) took a massive plunge of more than 70% yesterday and dropped down to $0.012. Traded volume exploded by almost 20 times the amount of the previous session with 7.6 million shared dumped on the market.

The fall happened right after a paid promotion was initiated for the stock. PennyStockCrew and StockPublisher disclosed compensation of $70 000 for a two day promotional campaign.  We are wondering if they will try to send alert emails tomorrow after the fiasco the stock suffered. StockRoach, BreakoutStocks, Penny Stocks Profile also did their part in touting CNCT for far lesser sums - $10 000, $12 500, 15 000, respectively.

The stock was already pumped to high heavens back in late February when it skyrocketed by more than 1000% in a single day. Now the ticker has almost lost all the value it gained due to the praising and in early trading today it continued its slide to the bottom by another 16%.

On the financial side of things the CNCT is quite unlike the majority of other pennystock companies. For 2012 it reported revenues of more than $26 million and finished the year with a positive bottom line - a distant dream for many others.

SOULchart.pngA couple of months back, Penny Stock Crew and StockPublisher were engaged in other promotion for the even bigger sum of $145 000. When the emails stopped Soul and Vibe Interactive Inc. (OTCBB:SOUL) was devastated and currently the stock is barely registering any trades.

Even experienced traders may find CNCT's stock difficult to play because the inherent volatility of the stock coupled with the touting should not be taken lightly.

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