Atlas Technology Group, Inc. (PINK:ATYG) stock got some coverage by a stock promoter yesterday but the share price could not break out of the trading range. Another optimistic press release on the company’s projected revenue did not help either. 
ATYG is now trading within a trading channel and the 50-day moving average serves as a level of support for the share price. The latest trading session closed with a decrease of 6.90% at $0.0027 for a share while the total trading volume for the day was over 89 million, which is more than four times the daily average of the stock.
Probably, the increased trading activity during the preceding session provoked the promoter to send a new trading alert on ATYG shortly after market open yesterday, thinking that it is the right time for a breakup of the share price. According to our newsletters database, the promoter did not get a compensation for alerting ATYG, at least no compensation was disclosed.
Recently, Atlas Technology tries to raise its share price over optimistic press releases as well, mostly related to its subsidiary Racing Limos America, Inc. The new PR from yesterday claims Racing Limos were to report 50% revenue growth for the first quarter of the year, getting “a fairly steady stream of emails for franchise inquiries” as stated by CEO James Albion.
The annual report of ATYG for 2011 shows that as a holding company of Racing Limos Atlas Technology has not had any revenue at all over the past year. Judging by the low market cap, which is still times higher than the company’s tangible assets, it looks like investors also do not expect any growth of ATYG non-existent sales.
