Sunpeaks Ventures, Inc. (OTC:SNPK), once a high flying stock due to promotion has dropped well below its pre pump levels. The SNPK pump began at around $0.40 a share and saw a massive spike in volume around March 12 as traders were excited to trade the newest big pump. Shares of SNPK quickly rose to about $0.70 a share before seeing its first pull back as investors locked in quick profits.
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This pump was far from over though as the stock slowly began to rise from $0.50 a share and only saw a handful of negative days before hitting an all time high of $2.40. SNPK hit $2.40 earlier in the day on April 17 and would be the last time it was over $2 a share. Later that morning the bottom fell out of SNPK as big selling led to panic selling as traders who got in late rushed to the exits. This sent the stock to as low as $0.93 a share on April 18. SNPK saw a few bounces the past few weeks, but hit lower highs each time on the way down. [Read more...]