After recording three consecutive red sessions, the stock price of Black Stallion Oil and Gas Inc (OTCMKTS:BLKG) managed to reverse its direction and jumped more than 6% to close the week at $1.52. The gains came at a share volume of 228,235 compared to monthly average share volume of 283,858. After Friday’s gain, the market cap of company stands at $66.90 million.
The sharp jump of Black Stallion stock in last trading session reveals that the pumpers touting the stock are yet not willing to give up their pump measures. They issued a pump email which managed to push the stock up at the close of week. It seems that as of now the investors are ready to ignore the dismal financials of the company, as reported in the last quarterly report. As per the record, the company is almost cashless and has failed to report revenue so far. Despite the disastrous financials, the outfits are touting the stock with a high price target of $3 per share in the near future.
The pump outfit touting Black Stallion stock is Wall Street Report and it has been working on the same task since last two weeks. It has been circulating promo emails and has even created a landing page of firm on its website. The firm has disclosed that the compensation for ongoing pump is being made by a third party, named as Pansino Investment Ltd.
The investors who are rushing to invest in Black Stallion Oil and Gas Inc (OTCMKTS:BLKG) stock after being impressed from the pump should carefully go through the financial report of last quarter. As per the latest filing, Black Stallion posted $239 and $7,000 in cash and total assets, respectively. The net loss stood at $34,000 while revenue was $0. Even a glance at financials highlights a dismal financial picture of the company.