If you bought shares of For the Earth Corp. (PINK:FTEG) two months ago, you would now be able to sell them at a substantial profit.
Yesterday, FTEG put on quite an extraordinary market performance. Closing at $0.0019 per share, FTEG not only more than doubled its value gaining 111%, but also hit a 12-week record. What is more, the giant price surge was accompanied by a huge volume spike, as well. More than 37.3 million shares of common FTEG stock were traded throughout the day, which is the highest turnover the company has shifted for the last three months. In addition, it is also 20 times as high as the daily average trading volume.
No company-related news appear to have come up recently. Nor have any paid promotions taken place. Yet, FTEG is more volatile than ever. So, if anyone knows what exactly might be going on, they seem to be keeping the secret really well. Nevertheless, whatever has to come up will sooner or later surface.
Formerly known as Medjet Inc., For the Earth Corp. is an Arizona corporation which produces eco-friendly household products nationwide. The company’s mission is to manufacture products which are both biodegradable and efficient for customers.
FTEG published a full-blown financial report in mid-November. Covering the nine-month period ended Sept. 30, 2011, the document revealed:
- $768 in cash and cash equivalents;
- total assets of $25K against total liabilities of $1.25M, i.e net worth of minus $1 million;
- sales revenue of $69K vs. $146K a/o Sept. 30, 2010;
- net loss of $561K as compared to $462K incurred for the nine-month period ended Sept. 30, 2010.
