Bioflamex Corp (BFLX) stock plunged almost 72% today after being promoted by bestdamppennystocks – who received a $500K thank you very much budget. The stock ran briefly from $.20 to $.59 (in one & a half session) and closed today at $.136 on volume of 36,726,162.
We’re not in a position to discuss the performance of this promoter, nor the company’s fundamentals, nor the tactic of dumping common shares like no tomorrow. But we’d like to point out something interesting from:
- chart technical perspective (1)
- current share structure figures (2)
- stock market traders mentality (3)
1. BFLX 30min chart
3. Pennypic & its family of websites Sunpeaks Ventures, Inc. (SNPK) promotional play caused the market effect of “buy us by selling everything else“. Profit taking of SNPK will be giving out the trading funds that should perfectly flow back to the liquid stock such as BFLX.
All of these lead us to believe in a bounce candidate in BFLX. Happy Trading!
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Bioflamex Corp. develops, produces and markets innovative, high performance fire extinguishers and prevention products based on a unique environmentally friendly biological technology. These products will not only be highly beneficial to the market and society as a whole, but will also prove a lucrative investment opportunity as Bioflamex Corp. gets additional traction in the market.