Today’s crash of the highly promoted Awesome Penny Stocks pick TagLikeMe Corp. (TAGG) from their intraday high is a good taste of what’s to come. Hitting a new high slightly after 10:30am, a 433% gain since our initial coverage prior to the APS announcements, TAGG stock almost immediately crashed allowing for swing traders to capitalize on gains of 20% plus. The sudden drop in the share price after such a bullish first hour of trading is a lesson for traders new to how AwesomePennyStocks work and why optimism is better saved for hoping the Tigers can bounce back in the World Series.
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TAGG Stock Chart
Market Cap: 100.67M
Last: 0.304, up 0.0034 (1.13%)
Volume: 111,395,153
Dollar Volume: $37,456,279
High: 0.4799
Low: 0.25
Trades: 10,901
Average Trade Size: 10,218
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It was expected that TagLikeMe’s TAGG would crash sooner rather than later for a few reasons:
- It’s been a month already for the Awesome Penny Stocks pump;
- Global Stevia Corp.’s GSTV is ready and waiting;
- Graphite Corp.’s GRPH began trading Wednesday; and
- It was bound to happen so they can squeeze in another run before the end of 2012
About TAGG Stock
TagLikeMe Corp. is headquartered with corporate offices in London, England and supported technology centers in the Western United States. The Company’s core website, www.TagLikeMe represents the next generation of Internet search engine and offers cloud based solutions to store and share interests online. The Company would like you to believe it is the vital center of what will become known as Common Information Networks. Using TagLikeMe, individuals can search, tag, store and share all forms of digital information in a single, easy to use interface. Using toilet paper, one can wipe one’s own arse.
Bottom Line: Leading the OTC in trades and listed second in volume, TAGG stays on the list of penny stocks to watch for the time being. Lesson learned by traders of other 2012 APS plays like NSRS, SNPK, GWBU, VLNX and PRTN has taught them not to try to peak out, but rather prepare to play the bounces. The TAGG stock crash is one day closer now and today’s taste for those who locked in at 0.40 plus will get to average down quickly before it becomes too expensive to.
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