PetroTerra Corp. (OTCMKTS:PTRA) Regaining Some Ground

[[tagnumber 0]][[tagnumber 1]]October was quite an eventful month for the stock of PetroTerra Corp. (OTCMKTS:PTRA) as we saw the daily volumes picked up from the ground. The price also managed to go on a hike and reached above the $1.50 per share mark, only to come sliding back down.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]As [[tagnumber 6]]PTRA[[tagnumber 7]] entered into this month and the volumes dropped significantly, we saw the ticker become a bit more stable below $1 per share. That, however, only lasted until the majority of the people saw the results contained in the company’s latest quarterly report that came out in the beginning of this month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $20 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $133 thousand[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: ZERO[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $143 thousand[[tagnumber 13]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Definitely not something that can warrant investor excitement. Furthermore, the quarterly filing also revealed that the company has issued around 400 thousand new shares of common stock at prices ranging between $0.29 and $0.40 per share, quite the hefty discount from the prices we saw [[tagnumber 6]]PTRA[[tagnumber 7]] reach in the middle of last month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]When you take into account that the ticker was promoted we can only imagine that some of the people that received these shares might have been behind the pump effort and made some decent profits. Still, this stands in the recent past and the results from the quarterly report have left their own mark on [[tagnumber 6]]PTRA’s[[tagnumber 7]] stock.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In the sessions after the filing of the quarterly report we saw the ticker slide violently, reaching lows of $0.33 per share in the end of last week. Still, some touting and some press releases managed to turn the direction of the ticker. Trader’s Choice included [[tagnumber 6]]PTRA[[tagnumber 7]] in a release issued Monday morning and the company came out with an update yesterday.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The ticker reacted and climbed in both sessions, gaining 20.49% yesterday and closing at $0.4699. A total of 183 thousand shares changed their owners during yesterday’s trading and generated $87 thousand in daily dollar volume. [[tagnumber 6]]PTRA,[[tagnumber 7]] however, shows some hesitation in today’s trading and we might very well see it close in the red once again.[[tagnumber 2]]