Fortune Oil & Gas Inc (PINK:FOGC) is once again going to be promoted by one of the most recognizable promoting group on the market, that of Stock Egg and Hot Otc. The promotional newsletter hit the e-mail boxes last night, so investors will have to fasten their belts and see if another turbulent session is coming.
A point worth mentioning is that this time the paying party has assigned less money for the campaign. While last time the third party in the $310 thousand promotion of FOGC was unknown, this time it is no secret that the campaign is sponsored by Ocenaic consulting. The compensation received by the promoting group was in the mount of $18,500.
The last promotion of FOGC took place on June 12. At that time, FOGC shares were valued at $0.03. One month later, however, the stock has dropped down significantly and is currently trading at around $0.01. [BANNER]
Due to the coming promotion, it is not certain what will happen with the stock in the short term. Currently, technical indicators are showing some sings of reversal, but at this stage they are too weak to provide for an investing base.
The company also announced through the unofficial system of PRNewswire that it had an interest in purchasing an additional oil field in Liberty Salt Dome. Most likely, the announcement spurred some buying pressure at the end of the trading day last Friday, which pushed the stock price up by 37%.
Apparently, the newsletter campaign is coming at a moment of reversal and will use the impetus created by the news, trying to further stimulate the stock. It is, however, typical for promotions to have a most unexpected effect on the promoted stock, which makes FOGC stock a target suitable only for risk tolerant investors.
