The promotions continue, the hype goes on, the price goes up - this is First Corp(OTC:FSTC
, FSTC message board
) this week. The stock ended at $0.7 last week, but it is highly possible that it might end this one at levels about $1 per share. Yet, another scenario is also possible, but at least there is news at hand as well.
News and promotions - this is obviously a good combination in terms of stock performance results. In February, not a single share was traded on the market. This week, it is a pure trading frenzy. As mentioned, there are two main catalysts - stock promotions and news. Since the first type is usually one of high impact and short-term effect, the news should be of primary consideration.
First, on Wednesday the company entered in relationship
with a new Business Development Consultant. Surprisingly, only two days later, the first benefits from that relationship started showing. Today, a second announcement
from First Corp came out, regarding a Securities Purchase Agreement arranged by Thomas J.Wikstrom - the consultant in question. According to the agreement, the other party is to invest a minimum of $250k in First Corp within 14 days.
All in all, this is good news, but after all First Corp was founded in 1995 and as mentioned in its SEC filings, the company activities up-to-date have been limited to capital formation. In terms, the management should be very good at that after more than 15 years of practice. Investors, however, might be also eager to see actual operations commencing. Which could happen if the long overdue acquisition of Acquma gets finally completed.
If not, a scenario like the one from previous months is possible - no trading activity, no change in the stock price.