Focus Gold Corp. (OTC:FGLD) has been promoted before with very limited success. As a matter of fact, the promotion from Sept. 15 was a disaster. Can things turn out differently this time?
Yesterday, FGLD closed up 3.45% at $0.30 with a moderate volume of approximately 52 thousand shares.
It should be noted that FGLD managed to recover from the downfall triggered by the Sept. 15 promotion.[BANNER]
This time the promoter expects to receive $15 thousand for its service from RDI LLC. RDI Research Driven Investor was a part of the failed promotion. The aggregate compensation for the promotional services for FGLD received by RDI is approximately $200 thousand.
Today, FGLD has opened with a gap up, which is typical for a promoted company on the OTC. In addition, there is a press release issued by the company and talking about a deal concerning another company’s porphyry gold project in Mexico.
It is still too early to say where FGLD may go in the long run. For today, if it follows the pattern of most promoted stocks FGLD may close lower than the open. Traders shouldn’t forget what happened on Sept. 15.
