Endeavor IP Inc (OTCBB:ENIP) Pump Recycled
After approximately 3 weeks of silence, the pump on Endeavor IP Inc (OTCBB:ENIP) seems to be on again.
On Monday we received an email from The Stock Junction. The publisher of the newsletter has been paid $4615 to distribute email advertisements about ENIP.
The email contained a paid report by some Jonathan Kolber and the disclaimer of that report states that Absolute Media Services has received $450 thousand to pump ENIP.
On Tuesday we received another email from 900PercentStocks, a newsletter which was used to pump ENIP back in November. The market reaction to the second email was much more significant. ENIP got e new volume high of nearly 2.4 million shares, accompanied by a 17.99% price increase.
The excitement proved to be very short-lived, and yesterday ENIP dropped back 9.08% to $0.6501 per share.
While the pump was running in November, the company helped to fuel the hype with a number of optimistic press releases, but this time around it seems ENIP isn’t cooperating.
The pumpers have their work cut out for them. Recycling a pump job so soon after it has crashed often proves to be a lost cause. Their job will be even more difficult with the SEC being so active lately. The latest huge pump job to get the axe was Makism 3D Corp (OTCBB:MDDD) which got suspended on Dec. 13.