Volume alerts are one thing, but when more than 33% of the shares outstanding trades with two hours left in the session, something is not right. That’s where things stand at present with TagLikeMe Corp. (TAGG) who announced earlier they positioned themselves at the forefront of the $16.9 billion social media market. Basically, they think they can take out Facebook (FB) and TAGG stock is trading implosively since the announcement. It’s looking like that last game of tag Jim Jones had everyone play right before they drank the kool aid.
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TAGG Stock Chart
Market Cap: 30.12M
Last: 0.09, down -0.0195 (-17.81%)
Dollar Volume: $9,750,429
Average Trade Size: 40,253
Issued and Outstanding: 330,940,630
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Two weeks ago, there was plenty to like about TagLikeMe. It traded healthy with a 20 Day Average Volume of 105,558. It even had healthy gains, up 56.43% during the last 20 trading sessions. However, today’s activity and the alerts disseminated from pennystocks.com which came with no disclaimer attachment are just down right scary.
On July 23, 2012, TagLikeMe executed a 5-for-1 forward stock split. Not so scary. On July 23, 2012, the Company increased the authorized share capital from 66,666,666 shares of common stock to 333,333,330 shares of common stock. That’s some Jason/Freddy Kreuger/Hostile spooky stuff.
About TAGG Stock
TagLikeMe Corp. plans to execute its business model in three fundamental stages of growth:
A. Population. As the beta product matures from user feedback and ongoing general development, the business will require additional funding to pursue additional marketing and support personnel. Significant cross marketing, ad placement and general awareness campaigns will have to be implemented on a constant basis in order to maintain general awareness and overall activities growth;
B. Thoroughly position the development of the product toward mobile and portable device style applications. This will require additional resources in development and the overall first phase plan is to deploy a mobile platform for iOS phones and pads for users to take advantage of the Company’s search, bookmarking, and collaboration tools for the “on-the-go” user; and
C. Dump shares onto unsuspecting investors who are chasing the next APS play like a bunch of crack bunnies.
Bottom Line: TAGG is undoubtedly going to end Tuesday’s trading session as the highest dollar volume penny stock and the most traded. When you go to execute your order to buy TAGG stock, think about the Rev. Jim Jones and ask yourself how badly you want tot drink that kool-aid.
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