Telupay International Inc (OTCMKTS:TLPY) stock prices declined a way below the low mark on Monday’s trading session, as another round of aggressive selling commenced. The prices were headed down right from the opening on Tuesday’s trading session. The second half resulted in the blood bath in the stocks and by the end of the session TLPY prices have declined 56.95% to close at $0.0340.
The turn of events
The terrible decline in Telupay stocks was not unexpected, but the timing of events surprised investors. The fact that the total volume for the trading session crossed 9.49 million indicates that quite a short selling took place, which isn’t all that shocking. The expensive paid pumps are often followed by sharp declines caused by a large amount of shares hitting the market.
Telupay failed to post gains after Statler selected TLPY as his biggest pick ever. The event turned out to be negative for TLPY stock as the investors started to dump them just after the release of Statler’s statement. All the efforts to make a comeback were ruled out as TLPY stocks closed in deep red for second consecutive session. As of now, the stocks have erased almost 70% of its total market value. The promotion news from Godzilla Stocktips didn’t help the company in any way. It is a big disappointment as Godzilla Stocktips is the same company that promoted the companies like ALKAME HOLDINGS INC (OTCMKTS:ALKM) and WELL POWER INC (OTCMKTS:WPWR).
TelUPay’s main product offering is MBPS that is offered to banks as they use the secure encryption technology. The services are provided to both bank and its clients. The system is associated with various activities including Fund transfers, mobile airtime purchases, balance inquires and several form of remittances and payments. The prime objective is to transfer the cost benefits to the end users.