Black Stallion Oil and Gas Inc (OTCMKTS:BLKG) stock price has performed exceptionally well following the paid promotional campaign. Even though the stock is trading far from the pumped high of $2.40 per share, the up move is still on. The company’s stock price put on 4% in yesterday’s trading session and closed at $1.77 per share on share volume of 296,682 compared to average share volume of 330,630.
Black Stallion Oil and Gas is another oil and gas exploration company which managed to come out of oblivion for no apparent reason. The promoter firm Wall Street Report picked the stock up and ran a massive stock pump. The earliest paid promotional mail was tracked down on August 12, 2015 but probably the pump started earlier, considering the upward stock price movement of the stock on chart.
The promoter WSR initially disclosed a compensation budget of $50,000 paid to promote Black Stallion stock by a third party named as “Pansino Investment Ltd”. The emails sent later reveals that this figure grew to as much as $100,000 from Pansino. Evaluated against the big promotional jobs of the previous years, a hundred thousand is not a big amount. However with the pumping campaign nearly done for, it is substantial amount to pump a stock. The pump outfit has also designed a landing page with a research report on company on its site.
Black Stallion put up their last quarterly report just as Black Stallion Oil and Gas Inc (OTCMKTS:BLKG) was declining after the big spike, on August 19, 2015. Given the dismal numbers contained in report, it is hard to picture investors lapping up the stock at more than $1.70 but the market highlights a different story. As per last report, the company reported cash of $239 and total assets of $7,000. The revenue was nil while net loss was $34,000.