It appears that $600,000 pump for TANARIS POWER HLDGS INC (OTCMKTS:TPHX) that started almost four weeks ago is finally losing its sheen. The landing page was created by Shawn Roberts from The Profit Letter. The pump highlighted that the TPHX shares people buy today for 50 cents can surge to $5.56. However, almost a month later, the predictions are far away from the reality.
The momentum
Tanaris Power stock did react to the pump initially and was trading around $0.70 on April 21, 2015. Later, it gained some momentum towards south and started to decline. It reported seven red sessions in a row to end at less than $0.30. Last Friday it tried to recover and posted a green session on an extremely low volume. It was a short-lived rally followed by trading sessions this week.
In last trading session, the stock price of Tanaris Power declined more than 4% to close the trading session at $0.235. The decline came at a share volume of 896,157 compared to average share volume of 348,334.
The efforts
The pumps outfits have not given up as they continue to send several email alerts. Few of them were circulated by Hidden Gen Stocks and other smaller outfits. All of them would be disappointed as the pumps resulted in no short term gains in Tanaris Power stock. The main problem behind the dismal performance despite the pump is with track record of pumpers.
Tanaris Power is not operative in the battery business. It is a mineral exploration firm and as per the financial report for the quarter ended January 31, 2015, the company reported cash of $2,000. The current assets came at $52,000 and current liabilities stood at $72,000. It recorded no revenue since inception. The quarterly net loss was $10,000. So, the numbers show clearly there is nothing much to get excited about TPHX stock.
