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By Ekaterina Zelenkova
Aug 15, 2011

Portage Resources Inc (NDA) (PINK:POTG) Stock Surrenders

POTG_price chart_120811.jpgThese days, the share price of Portage Resources Inc (NDA) (PINK:POTG) suffers as this time the stock promotion and alerts were not in place to give support.

The only and “lonely” press release of the company from the end of the week succeeded to limit temporarily the speed of the shares' rolling down.

On Friday, after the next in row plunge down, POTG was worth $0.191 per share. The trading activity was not as strong as it had been on Thursday when almost 12 million shares changed hands. It sanctioned POTG with a return back of the share price by 22.18%.

At the end of the week, the shares' performance kept the cloudy investor mood, though the heavy bearish storm from the preceding trading session has calmed down.

One of the possible reasons for this to happen was the lack of a stock promotion and stock alerts on POTG.

The other argument for the strong downward direction of POTG was a recently released by the company update. On the one side, it may be the factor that limited the level for the share price decline. On the other, it disappointed many investors with the announced retreat from some company's strategies.

POTG_from the site1.pngIn its announcement, Portage Resources Inc. explained certain fact related to the forthcoming dilutive forward split of the company's capital, as well as to the meaning of the CUSIP number. Parallel to all above was the company's statement for the “abandonment” of the Holly Properties in Pershing.

Not that long ago, in mid-July this year, Portage reported "positive due diligence on the Holly Gold Properties in Pershing County, Nevada".

This was the time when the news related to the holly lands, combined with stock promotional campaigns, shot the price of POTG in the holly trading range of almost $1.

Unfortunately, on Friday the company's management announced that the above mentioned "properties were an excellent prospect but did not fit into the overall company plan of responsible growth”. The company stated that it quits any further interests or negotiations related to them.

For sure, for some investor that are in a bullish mood this was not as much frustrating news, but more a signal for the nearest future. Portage Resources Inc. may have other strategies with unproductive tactics. It may also have strategies which are closer to a PR event than to a concrete development plan.

On Friday, the price of POTG surrendered, parallel to the information about the forward split that requires a surrender of shares. Today's trading session may show if this was just a share price decline before the next promotional stock rally, or a general trend.

Average Reader Price Target For POTG:

Going Down!

What price do you think this stock will go to?

Reader Valuation Chart

Article Comments:

Guest wrote: 1:01 pm Jan 31, 2012
The worst stock I have ever seen and tracked.
Guest wrote: 1:02 pm Jan 31, 2012
Worst stock I have ever followed.