Hristina Beeva

First Titan Corp. (OTCBB:FTTN) Taken by Quality Stocks in Sunday Promotion

by Hristina Beeva October 28, 2013
First Titan Corp. (OTCBB:FTTN, FTTN message board) is moving downward, dismantling the positive trend of the past two months. As we warned, FTTN was merely enjoyed for the upward movement out of almost nowhere, and investors were ready for an exit even as the most positive days rolled by. FTTN lost more than 9% on Friday, to stand at $1.20 on dollar volumes above $395,000. FTTN1028.png

Now, FTTN is making a bid for an improvement in the new week, with a new PR message outlining the Alabama oil well production. But buyers need to be aware that despite the properties, so far FTTN has made less money than a regular gas station. All of this is offset by the fact that $100,000 went toward the promotion of FTTN, with the new email landing on October 27th. This is the first promotion for FTTN since the winter months. NTEK1028.png

Still, FTTN is enthusiastic about its output: the Little Cedar Creek Field in Alabama is producing 370 barrels of oil and 240,000 cubic feet of gas per day. Either the numbers are wrong, or the well is producing only a trickle of oil, from a probably spent location, since production numbers tend to be much higher. But in the form of PR, FTTN may gain more from the production than the oil itself.

If you still believe FTTN could reach a bargain price, keep in mind that among penny stocks, oil and gas plays are very common, as usually there is a disparity between the stock price and the real value of the company. Also, it is worrying that selling coincides with the new promotion, as the addition of new naïve investors may give a chance for other holders to shed the stock, depleting the price further. Now, the new week will show if the promotion would do more for FTTN.

FTTN was taken up anew by Quality Stocks, receiving $100,000, with some rumors for a sum five times as much. The size of the promotion may warrant a few more emails, keeping FTTN on the radar.

Quality Stocks is a well-known promoter that just in October received more than $422,000 for emails. It took part in the pump for pharmaceutical ticker International Stem Cell Corp. (OTCMKTS:ISCO), which made a classic run and then broke the trend.

Also, Quality Stocks was one of the pumpers that are taking NanoTech Entertainment, Inc. (OTCMKTS:NTEK) to new heights.

For FTTN, red flags just became more numerous. It is best to stay away, unless you can afford a further breaking of the good trend. And even in case of a recovery, it would be promotion-fueled and still uncertain.

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