Fortitude Group, Inc. (OTCMKTS:FRTD) Takes a Gulp of Air

The least that Fortitude Group, Inc. (OTCMKTS:FRTD) could hope for was some buying when the stock price bottomed out. FRTD has been crashing in the past few days, unable to continue above the $0.06 range. On Tuesday, FRTD recovered a little, adding more than 22% to $0.00252, as buying expanded to $1.2 million. The day was also marked by relatively lower volumes, with all but one MMJ ticker below the $10 million border.

FRTD rose on a day when most of the tickers in the Marijuana index remained subdued, and the indicator itself slid by more than 5%. The immediate reason is that FRTD spent some days without corporate updates, in addition to the general pessimism and the series of trading suspensions last week.

Now, investors’ forums show some expectations of a big comeback, achieved in a short period. The possible price for FRTD is seen at $0.05. Others fear that FRTD will be the next under the SEC radar, for the unusually fast trading, combined with many red flags surrounding the company’s non-existent products.

FRTD promised a shopping card, and two of its own brands of vaporizers, but so far, not one of those products gives signs of being a viable market alternative. VaporVite is not even trademarked, and MariMite was only protected a few days ago. The Affinity Black Card is still a mere promise. On top of all, FRTD is not a regular filer.

So investors are left with the expectations that the partner, Affinity Mediaworks Corp. (OTCQB: AFFW) has indeed managed to gather $4 million. FRTD was not bashful in its future business estimations, stating that AFFW would bring in more than $200 million in annual revenues, while VaporVites alone would sell a whooping $15 million in products in one year.

Needless to say, none of this helped stop FRTD when it sank more than 70% in a few short days.

FRTD strangely chose a very busy market, that of electronic vaporizers, promising to make a big splash with a device that still looks like a prototype. In addition, many better-quality OTC tickers used similar products, but were wiped out in a wave of pessimism. The leader in the sector remains mCig, Inc. (OTCBB:MCIG), which is sustaining a longer sinking trend, sliding from above $0.73 toward the 50-cent range, as the bad mood persisted in the new week.

Vape Holdings, Inc. (OTCMKTS:VAPE) hardly managed to hold onto the corrected price, and slid from the peak $30 and above, toward the current $8.8 position, while still bleeding pennies in a relentless falling trend. This ticker is quite highly priced, and not the easy entry point that FRTD offers.

The biggest risk for FRTD would be the risk to draw in too many investors with the relatively low price. This, of course, won’t guarantee a lack of future disasters. Also, trading has been slow, so think well before getting caught in a position that may be hard to shed.