First Titan Corp. (OTCBB:FTTN) Posts Buying Record
Taking a look at a longer time horizon, the graph of First Titan Corp. (OTCBB:FTTN) looks odd: a long drift sideways in a respectable price range around $1.50, and a sudden spike in buying. On Monday, FTTN jumped on record volumes of $1.62,000, as a bit more than a million shares were mopped up, and the stock grew by more than 25%. 
The company has not been promoted since the winter of 2013, but the latest spring in activity follows a few robust press releases outlining a future for this natural gas company. And after a deep crash at the end of 2012, FTTN managed to disguise the loss a little by making a 20-for-1 reverse split, thus achieving the relatively higher positions with just 9.26 million shares outstanding.
And now, FTTN has all it takes for another run- a room to dilute the shares, plus a response to PR activity. But is FTTN any better than the risky bet we looked at a few months back? The company claims its natural gas properties and other assets promise a future of gains. The recent past looks like this:
- $203,997 cash
- $570,404 total assets
- $492,559 total liabilities
- $2,915 oil and gas sales
- $177,620 net loss for the quarter ended June 30th.
It is easily seen that FTTN is not making much more than a simple gas station- and all the while, it promises revolutionary technologies and booming sales.
Another red flag is the fact that alternative and greener energy solutions are a staple amo
ng penny stocks, using enticing future promises and property valuations to garner investor interest. Right now, FTTN is not moving in such a great disproportion, but actively promoted tickers in the sector often cause amazing spikes and costly troughs.
Refill Energy, Inc. (OTCMKTS:REFG) is among the most actively touted tickers in this category, and it offered up a wild ride. The ticker crashed from $2 on sudden selling, then swung between 60 and 20 cents, only to drift for now around 30 cents.
Origin Oil, Inc. (OTCMKTS:OOIL) is an older promotion which bottomed out and is recently warming up again. The stock has been dropping generally, though promoters helped drive it to 60 cents. October came with higher activity and brought the stock from 20 cents to the 30s, expecting to see if this would not be a dead cat bounce.
If you still believe FTTN is in for something big, keep in mind that disproportionate activities reveal higher risk. Avoid loading unaffordable amounts of this stock.
