While promotions tend to have a temporary impact on penny stocks, sometimes there are exceptions and Mammoth Energy Group Inc (PINK:MMTE, MMTE message board) is a positive evidence thereof. Its stock has been heavily advertised by a particular promoter since Jan. 6. As a result, MMTE stock market performance has registered:
a cumulative price surge in excess of 1166% - from $0.0003 on Jan. 6 to $0.0038 on Mar. 29;
a daily average trading volume of 106 million - for the same period.
The price at which MMTE stock closed yesterday's session is a 52-week high for the company. So is the volume. By the time the session ended, nearly 290 million MMTE shares have changed hands.
As it seems, investors are beginning to treat MMTE more favourably. Not long ago, an iHub poster questioned the company's assets. Today, another one described it as "rock solid with a very bright future'. The latter, however, might not be so close to reality. Last month, the company announced it intended to acquire a Chilean mining property by the end of the first quarter of 2011. As of today, negotiations have yet to be finalized.
Mammoth Energy Group Inc pretends to be a mining company focused on alternative energy. Currently, it gives priority to its Chile-based lithium concessions. The company ended the first three quarters of 2010 with zero cash and a net loss to the amount of $65K.
4MMTE_logo.pngThe negative financial figures determine MMTE's dire need of additional capital so that it can continue operating as a going concern. The continual advertising campaign shows no signs of slowing down as additional $12 thousand have already been put on the table for another one-week coverage. Obviously, interested parties seem prone to push MMTE stock to the limits and beyond. So far, its potential has not reached the point of exhaustion.
