Stockhouse Short Report: OTC Markets issues LEXG stock warning

Lithium Exploration Group LEXG, a U.S. Bulletin Board stock with properties in Canada and Argentina, has seen its stock price rise in meteoric fashion. Yet the move appears to be fueled by little more than an $3.3 million promotion campaign. Between March 18 and April 28, the shares rocketed from 7 cents to a 52-week high of $10.68. Even after this week's abrupt U Turn, Lithium Exploration was still trading at $4.48 on Thursday, giving the company a market cap of $213 million based on 48 million shares outstanding. That's a lofty valuation for a company that has generated no revenue since its inception in Nevada in May 2006. Continue reading the article.