Ecrypt Technologies Inc (OTCBB:ECRY) is coming back strong after a bear raid this morning took the stock to a low of $0.336. The short attack was aided by a Seeking Alpha hit piece that slapped a target price of $0.01 on ECRY and suggested that longs ”sell now so as to avoid additional losses.”
The SA article sites lacking fundamentals for their short thesis which misses the mark entirely as fundamentals have absolutely nothing to do with ECRY current trading. The article was successful though in momentarily stopping ECRY momentum and upward run.
This comes a day after ECRY took out the magic tipping point when it surpassed $0.385 per share and exploded to new highs of $0.508 on record setting volume.
ECRY is the latest pick from StockTips who took over where APS left off quickly building a reputation as the Godzilla of small cap promotion. They gained prominence with such epic winners as TGRO which ran from pennies to $1.59 a share after they announced it as their pick. ALKM and WPWR also performed before the disaster that was PGFY. The stock was suspended in May causing huge losses for StockTips following and hurting their ability to perform going forward. Some have said that this might happen to ECRY which is true but not so likely as the PGFY suspension had nothing to do with StockTips but rather the underlying shell.
ECRY ran hard the day that StockTips announced as their pick hitting a high of $0.385 on record setting volume. This was followed by ECRY management issuing a press release distancing themselves from the promotion and saying they had no prior knowledge of it. This event tanked the price of ECRY and the stock hit a low of $0.16 before recovering and moving up from there.
This Morning Statler alerted subscribers on ECRY saying ”Another quick note from me today…As we re-write the rule book – I want you to be made aware of something this morning. Today there might be LOTS of bashing of ECRY and StockTips… I don’twant you to allow it to hurt our momentum – so please read on!”
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I want to be very clear! This bashing only puts a ding in the momentum if you (our smart readers) allow it to do so… If you are steady, then these guys are not effective…If you see this for what it really is, then these guys stop with the nonsense, and its business as usual and we continue making the green! I was looking at one such article on seeking alpha today, and it was almost comical… First of all, it is evident that the article was written some time ago, and was most likely going to be prepared in advance and use it when the “TIME WAS RIGHT.”
Because in the article, the writer says, “ECRY (OTCQB:ECRY) is a company trading at a price which has recently ran from a low of 0.119 to a high of 0.385 in just a few days.” Well it is safe to say, that we are WAY above that price of 0.385 quoted in this EXPOSE on ECRY 🙂
Call me crazy, but to me this means that this article could have been written some time ago, and in the event it was needed the article would be published… The only problem is, the genius author did not check the price before publishing his article! Shame on you SeekingAlpha.”
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Speculators in ECRY now look at $0.508 as the new magic tipping point that once surpassed would mark a huge win for shareholders and confirmation of the next big leg into a whole new range for ECRY. Clearly the promotion is still in full swing here; consolidation is healthy if ECRY holds its this level. Short term ECRY could easily go way higher after some consolidation here, long term the chances are that today’s SA writer is correct.
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Disclosure: we hold no position in ECRY either long or short and we have not been compensated for this article.