{"id":3626,"date":"2014-01-16T16:15:47","date_gmt":"2014-01-16T16:15:47","guid":{"rendered":"\/?p=3626"},"modified":"2014-01-16T16:16:41","modified_gmt":"2014-01-16T16:16:41","slug":"centor-energy-inc-otcbbcntos-slide-gets-steeper","status":"publish","type":"post","link":"\/articles\/centor-energy-inc-otcbbcntos-slide-gets-steeper\/","title":{"rendered":"Centor Energy Inc (OTCBB:CNTO)’s Slide Gets Steeper"},"content":{"rendered":"

\"0CNTO.png\"After making a complete hash of inflating Centor Energy Inc (OTCBB:CNTO<\/a>) back in May, the promoters left the ticker to its own devices and, predictably, it plummeted towards the bottom of the charts. Apparently, however, some people weren’t too pleased with the stock performance which is why, at the end of 2013, they decided to give it another go. <\/p>\n

Like the first campaign, the one from December didn’t involve heavy touting through the email, but it was nevertheless, quite expensive. The total budget is $500 thousand and you would expect from such a pricey pump to perform. At first things didn’t look too bleak. <\/p>\n

In fact, in terms of dollar volume, CNTO<\/a>‘s pump is proving to be quite effective – the daily trade value hasn’t dropped below $1 million for the last twelve sessions which could suggest that, although we haven’t received any email alerts since December 30, the campaign is still going strong.<\/p>\n

The price performance was also looking good at the beginning. A few major leaps propelled CNTO<\/a> from around $1 per share all the way to $2.33. The inevitable correction followed, but, surprisingly or not, it managed to recover nicely and on Tuesday it hit another high of $2.54. Despite that, however, CNTO<\/a> failed to end the session in the green and yesterday, the correction was a bit more violent.<\/p>\n

More than 2 million shares changed hands meaning that the dollar volume stands at around $4.4 million. More worryingly, the ticker opened the session with a gap up at $2.39 but, around 10 AM, it crashed and slipped below the $2 mark for a moment. It did manage to recover some of the lost ground and closed the session at $2.03 but it still registered losses of 11.7%.<\/p>\n

The question now is: “Will CNTO<\/a> recover just like it did after the first correction?<\/em>“.<\/p>\n

Early trading today suggests that it might just be able to do it. In fact, about forty-five minutes after the opening bell, it’s around 11% above yesterday’s close and it looks poised to challenge the $2.30 mark once again.<\/p>\n

The thing is, if it does manage to break through it, its market cap will exceed $158 million which might be a bit of a stretch when you have in mind the rather dismal-looking balance sheet. Here are the figures as found in the latest 10-Q once again:<\/p>\n