The penny stock of Alas Aviation Corp. (ALAS) pulled a kamikaze move while it was still taxiing down he runway on it’s first day being promoted. Supposed to be a Stock Hunter’s dream, ALAS stock nosedived after jumping 0.0001 from the open to less than half of the opening price despite the asset-less, niche operator of air cargo and related ground service operators dropping a multi-million dollar PR yesterday. If the fire keeps burning throughout the session, they may have to reach up to The Alkaline Water Company Inc. (WTER) for some help to put out the flames.
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Many thought that since the U.S. Government legislatures pulled out their thumbs to grab pens and ink a deal last night that penny stocks on the OTC would suddenly realize that ump-season is over and it’s time for some proper running to occur. Unfortunately, atleast during this first hour, nothing of the sort has happened.
The top 3, AMR Corp.’s AAMRQ, Fannie Mae’s FNMA and Freddie Mac’s FMCC are leading the session as they have for most of 2013 whenever there wasn’t a proper promotion underway. Even though we see Urban AG’s AQUM up there in dollar volume, gapping up to trap traders into averaging out some day down the road is little to bank on for a change in the times.
WTER stock, one of the longest running promoted stocks on the OTC is still up there churning out single digit swings. The Company did drop some decent news a week ago that their Alkaline88 would be carried one day by Alford Distributing Co. of El Centro, California, an Anheuser-Busch affiliate.
The big bomb so far today has to be the massive pterodactyl turd of Alas Aviation’s ALAS stock which fell from the sky as if a 747 just dumped their waste on top of the OTC. Supposedly having secured a Term Sheet for an $18 million financing deal so they can refinance 2 Boeing 757-200PCF cargo jets and other Cygnus debts, ALAS stock never stood a chance after filing their 10-K just 2 days ago.
No assets at all, no revenues (but that’s obvious) and 25,939,542 shares of ALAS stock owned by their CEO and President, Frank Drechsler of Lemon Grove, CA, if the performance of ALAS stock has any indication of what it will be like to be a passenger or have some cargo on their planned midwest air charter and shuttle services company, you better learn how to bend over and put your head between your legs.
About ALAS Stock
Alas Aviation Corp. is a development stage air transportation company engaged in the business of acquiring and operating regional airlines and transportation services companies.
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Trading should pick up now that the debt-deal has been signed and Obama has taken to the screens to give his 2 cents worth onwhy this shouldn’t happen again. Until some of the better penny stocks get on the right track and move they way they should, it’s looking like Octoberfest might be postponed until next year and we’ll all have to just pig out on the 3 full weeks of trading November brings.
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