Bayside Petroleum Company (BYSD.PK) sank down over 50% last week. After a resistance level at $0.030, the stock price ran down to $0.013 and its volume fell to 500 shares traded. Then, all of a sudden, the company's traded volume ran up to over 3 million shares on Monday! This jump was phenomenal for the pink sheet company and it had no reasonable explanation.
The company has no recent press releases on its website and hasn't made any general announcements during the last months. However, the records show that BYSD has paid 200k free trading shares to get promoted, which may explain the sudden volume jump.
The promoters can sell their shares right after the promotion, though in the BYSD case the price was probably artificially inflated. But still, we can find no definite explanation on the downtrend, which occurred. We can only assume the promoter has failed and decided to sell all the shares of BYSD.