The stock price of Crescent Hill Capital Corp (OTCMKTS:DRMC) has been touted by promotional emails almost daily since the beginning of June. A majority of these newsletters disclosed that they have received no compensation for their services, while the others stated to have received amount of between $1,000 and $5,000 to promote the company’s stock. It is the reason behind no major movement in DRMC.
The buzz
It was only in last week when the stock of Crescent Hill Capital recorded a large up move on charts. Last Tuesday, after market hours, the affiliates of Stellar Media Group Ltd, Damn Good Penny Picks, Prepump Stocks and Penny Picks joined the group of pump outfits promoting DRMC. The outfits started with their promotional campaign for which they received compensation of $23,000.
The attention on DRMC stock was further supported by a new PR released by Crescent Hill Capital Corp (OTCMKTS:DRMC) on last Wednesday. In it, the company reported that it will try to include Carbon Fiber Technology to its advanced manufacturing technology product line. The PR stated that company’s new corporate website is expected to be operational by the end of the month.
The impact
The pumps and the PR forced investors to become a part of frenzy buying recorded on Wednesday. By the closing bell on Wednesday, the traded volume reached 126 million shares. The increased volume didn’t translate into an impressive price gain though as DRMC closed the day with gains of just 3.2% at $0.0032.Howeverm the stock managed to make a high of $0.0079 in early morning trade. Such movement isn’t surprising for a stock that is being touted by a paid pump.
In last trading session, the stock price of declined 20% to close the trading session at $0.00240. The decline came at a share volume of 7.38 million compared to average share volume of 5.75 million.
