{"id":4268,"date":"2014-04-01T14:13:25","date_gmt":"2014-04-01T14:13:25","guid":{"rendered":"\/?p=4268"},"modified":"2014-04-01T14:13:28","modified_gmt":"2014-04-01T14:13:28","slug":"darth-trader-initiates-a-pump-on-next-generation-energy-corp-otcmktsngmc","status":"publish","type":"post","link":"\/articles\/darth-trader-initiates-a-pump-on-next-generation-energy-corp-otcmktsngmc\/","title":{"rendered":"Darth Trader Initiates a Pump on Next Generation Energy Corp. (OTCMKTS:NGMC)"},"content":{"rendered":"

\"4NGMC.png\"Next Generation Energy Corp. (OTCMKTS:NGMC<\/a>) is a penny stock company that entered the marijuana industry not that long ago. It’s also being pumped by Darth Trader a\/k\/a The Stock Psycho and Damn Good Penny Picks. You just have to ask yourself: “What could possibly go wrong?”. <\/p>\n

Plenty of things, actually. For one, if you take a look at the promoters’ track records, you’ll see that few of their previous picks managed to perform in the long run. In fact, the results of the touting were pretty horrific.<\/p>\n

The Stock Psycho a\/k\/a Darth Trader, for example, pumped Puget Technologies Inc (OTCBB:PUGE<\/a>) at the beginning of October 2013. Back then, PUGE<\/a> was hovering around the $1.40 mark. Yesterday, less than six months after the pump, it closed the session just above the $0.45 barrier.<\/p>\n

Things don’t look much better at Damn Good Penny Picks’ camp. They tried to give New China Global Inc (OTCMKTS:NCGI<\/a>) a boost back in February, but all they managed to do was send the ticker on a scary slide. NCGI<\/a> has managed to lose nearly 90% of its market cap in less than two months. <\/p>\n

Most of the current promotional emails for NGMC<\/a> are, once again, paid for by an entity called Actual Investments LLC and, as we mentioned a couple of weeks ago, they do own quite a lot of shares that can be unleashed on the open market.<\/p>\n

And although the hype and excitement around the marijuana industry is helping quite a lot of penny stocks go higher than they’ve ever dreamed before, it also proves to be the undoing for some of them. Like NGMC<\/a>, Aventura Equities (OTCMKTS:AVNE<\/a>) and Petrotech Oil & Gas Inc (OTCMKTS:PTOG<\/a>) entered the cannabis business in an attempt to draw attention to the stocks, but, apparently, the SEC thought that this wasn’t their best move. Temporary suspension orders were issued and the two tickers are now traded on the Grey Market.<\/p>\n

Of course, this doesn’t mean that NGMC<\/a>‘s fate will be the same, but it does warrant some extra caution. Especially considering the fact that according to an 8-K published on March 4, there are nearly 230 million shares issued and outstanding at the moment which means that the company’s market cap is now closing in on the $13 million mark. That’s a bit of a stretch for a small cap enterprise that as of September 30 had:<\/p>\n