Ecrypt Technologies Inc (OTCBB:ECRY) is coming back like a rock star after the bear raid on Thursday dropped the stock to lows of $0.336. ECRY is showing healthy consolidation after the explosive move it made earlier in the week to a high of $0.508. Once ECRY eclipsed the ”magic tipping point” of $0.385 the bulls took charge as expected and the stock rocketed up on spectacular volume.
As if on cue and timed perfectly for a desperate short position a negative article appeared on Seeking Alpha citing lack of fundamentals and slapping a 0.01 price target on the stock. As intended ECRY momentum was gone and it opened red on Thursday.
A little history on ECRY; the stock skyrocketed from illiquid at a dime to highs of $0.385 on spectacular volume on November 19 when StockTips announced it as their new big pick. ECRY soon took a hit when Company management issued a press release distancing themselves from the multi-million dollar Laluna promotion saying they had no prior knowledge of it.
ECRY is a multi-million dollar promotion from godzilla StockTips of TGRO fame; the new kid on the block, taking over where APS left off. They state in the ECRY email disclaimer ”AC expects to receive $5,100,000 as a marketing budget for production and distribution of ECRY marketing material from 3rd party Laluna Services, Inc.
Ecrypt Technologies Inc (OTCBB:ECRY) says they are at the forefront of data security, specializing in military-strength information security solutions for enterprise, government and military. The Company has limited history and has not yet filed a 10QSB or 10K.
Stocktips gained prominence with TGRO which made a spectacular run from $0.20 to highs of $1.59 after they announced it as their pick. Since then they have alerted such winners as ALKM which ran from pennies to $0.50 a share. WPWR offered spectacular gains for investors who bought in early when it ran from pennies to over $0.80.
They finally ran into trouble on PGFY which was halted causing huge losses for investors. It hurt StockTips ability to perform; there is always that worry that ECRY will be halted however PGFY halt had little to do with Stocktips and more to do with the shell.
Friday morning Statler said ”Good Morning Kids! Statler here! I trust you had a great evening, and that you are ready for what I believe could be a MASSIVE BREAKOUT day today on ECRY. I would not be surprised if over the next couple of trading sessions we see some of our BIGGEST DAYS EVER for StockTips.”
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He goes on to say that ”There have been many comparisons between TGRO and ECRY. If you are new here, let me tell you this, around this time last year, TGRO was alerted at 0.20 and ran to 1.59 in a few short weeks. Many are saying that ECRY has the makings of TGRO on steroids. There are those saying that ECRY could dwarf TGRO in terms of volume and gains!
ECRY was hit hard yesterday, and stood strong! Today it appears the bulls could start to run on ECRY, and if they do, I would not be surprised to close this week out this week with a bang. When I say a bang – I mean a BANG!”
Statler refers to the SA article that was published Thursday morning, later he says ”0.50 is the new line in the sand!” As I said, the article suggested that ECRY lacked fundamentals and slapped an $0.01 price target on the stock. Of course ECRY lacks fundamentals and if it was not the new pick from StockTips it would have no business whatsoever trading at a $50 million market valuation.
Long term fundamentals will come into play and ECRY will not be able to maintain anywhere near current valuations; in other words, once the promo dollars run dry ECRY could drop big.
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Short term is a different story entirely; as long as the Laluna StockTips $5.1 million promotion continues ECRY is liable to do anything. When ECRY surpassed $0.385 it very quickly exploded and it will go parabolic again if it can surpass $0.508 the new magic tipping point.
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Disclosure: we hold no position in ECRY either long or short and we have not been compensated for this article.