REDG is going nowhere fast.
Please check out my new article on REDG
Update: REDG was once the high flying new pick from Victory Mark (probably APS) but those days are long gone. Recently the stock made a strong move up from a penny to highs over $0.02 but has dropped back down since.
Red Giant Entertainment Inc. (OTC:e REDG) is the new pick from Victory Mark; the stock hit the bb's at well under a dime and rose to highs of $0.20 after the alert from VM domains SeletcPennyStocks and PennyStockHeroes.
Since then REDG has dropped significantly as did VM's to prior picks to this: VUME and PBCW. In fact since that surprising success of PWEI VM has seen their picks drop quickly spelling huge losses for investors.
According to a recent pr Red Giant Entertainment Inc (OTCQB: REDG) is a Nevada corporation that specializes in Intellectual Property (IP) development for multiple media platforms and transmedia propagation. The cornerstone of this development is based around the more than three dozen online and print graphic novel properties in various stages of production as well as the cast of thousands of characters from those series.
These properties have a readership that numbers in the millions globally. Some of these properties are actively in development into other media such as movies, video games, television, novels, toys, apparel, applications, etc. through either direct production or licensing agreements.
On March 6, REDG announced that they have wrapped "Magika" Post-Production, according to the pr, this is the Company's first animated feature film, currently titled Journey to Magika. A young boy's hair-raising adventures in search of his family in a mystical land of Asian myths and monsters, this full-length all-ages fantasy movie was rendered in a colorful mix of classic full 2-D animation and CGI.
Conclusion: To predict the future of any penny stock one only has to look as far as the promoters and their history. Victory Mark made a name for themselves on the huge success of their pick PWEI which continued to make huge gains for investors before it collapsed. Since then VM has had little success as their picks PBCW, VUME and now REDG have all tanked soon after they announced it. Currently trading at a market valuation of $75 million REDG has no fundamentals to back up anywhere near this type of valuation. This stock will continue to drop from here.
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