First Titan Corp. (OTCBB:FTTN) Stubbornly Keeps Levels
First Titan Corp. (OTCBB:FTTN) won’t give up without a fight, as the ticker clawed above the $1 levels after its days of freefall. FTTN stands at exactly a dollar after retreating just about 3% on Friday, on low selling volumes of above $230,000.
FTTN revs up its engines with several press releases, claiming to be increasing its oil and gas reserves. All of those are usually taken with a grain of salt by most investors, who don’t really believe FTTN would be on an oil bonanza, but the noise could trigger a few good trading days, propping up the share price for another run.
FTTN is elusive in its language, saying it would be evaluating potentially lucrative oil production in Texas, a statement easily refuted by reality, yet creating a sense of seriousness. FTTN has only one asset behind its back in the short term, the Quality Stocks campaign that promises to continue for 180 days, so there may be more mentions. For now, the pumpers were silent in November, with the last email landing at the end of October.
And while FTTN may make you money, it could end in the direction of previous operations by Mr. Robert Federowicz. FTTN has the same shifty business address that on maps appears as an empty parking lot.
Remember Obscene Jeans, Corp. (OTCMKTS:OBJE)? The ticker shot up from 30 cents to $2 on a wild promotion at the beginning of the year, only to return to the initial prices. This company was also seen as having great potential to take over the world of fashion. OBJE even returned as OBJ Enterprises, a video game maker, for a second round of promotions.
Remember Aristocrat Group, Corp. (OTCMKTS:ASCC) as well? Same story, starting up promising to vault the dollar last summer. As soon as the promotional efforts slackened, ASCC slid back to the 15-cent levels and lower trading volumes.
FTTN opened with optimism on Monday, and we have to wait and see if the ticker attracts more attention, and finds a level it could rebounce from. Just a few days ago, FTTN was seen as realistically targeting $2.50. It is possible that fresh promotions and PR mentions increase investors’ interest for another short run. Yet too much is now known about FTTN that could bring the fallout sooner rather than later.
Be prepared for a downturn and avoid investing unaffordable sums, being swayed by the brief winning season of this and other stock scams.