The Crash of Hot Penny Stock Sunpeaks Ventures (SNPK)

From a strong source, the advice was given to sell Sunpeaks Ventures (OTC: SNPK) as the hot, awesome penny stocks gods had spoken. Shares in the penny stock SNPK still are on the way down as this goes live but are currently down -2.69% and one should not expect to see them bounce any time soon. For a few weeks now we have been preparing readers for the inevitable and today is the day.

Subscribers to our penny stock newsletter received a stock pick over a month ago that is still climbing. Our penny stock picks have outperformed SNPK over the last 4 weeks.

Omni Ventures (OTC PINK: OMVE) was given as our alert on March 7th at $0.097.(see here) The stock is currently at $0.41, a gain of 322%.

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SNPK Stock Chart:

Shares were cruising above the $2.30 since the open until 11:07am when a trade for 1.28 million shares went through to drop SNPK to $2.28. One minute later the penny stock dump was on and the stock went to $2.22 at 11:09, $2.145 at 11:10, $2.03 at 11:11 (time of the APS tweet below).

It took 14 minutes from the time the tweet was sent for this to be the chart of SNPK. Within a minute, the stock had been in dump mode down to $1.30.

We have been warning investors to trade responsibly on SNPK since we spotted it at $0.43. You can see here from April 8 we said to sell out of SNPK.

On April 12th we said, as you can see here, that buying SNPK now would be a futile financial exercise. nd that past events can predict the future as we refer back to Amwest Imaging which had a great run on press release bingo before dropping out in less then 53 minutes.

A stop loss will do you no favors when volume gets this big this fast.

Bottom Line: You can officially take SNPK of your list of penny stocks to watch and perhaps next time if you are one of those who are left holding the bag, take our advice when it comes to penny stocks.

Bulls make money, Bears make money but Pigs always get slaughtered.

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