At the end of the trading week, like everything new and just introduced on the market, Forex Intl Trading Corp (OTC:FXIT) stock shot its next in row 52-week high.
Though the stock promotion and the buyers strong pressure pushed up the trading range of FXIT over the limit of sixty cents, the share price pulled back on Friday with 0.97% for a second trading session in a row.
Was that just the beginning of the pre-promotional ride, or was it just time for the investors to take into account the constantly rising up FXIT stock?
Last Tuesday started the stock promotion of Forex Intl Trading Corp. Maybe, it is supposed to maintain the steadfast upward direction of its share price.
In comparison with other similar campaigns, the budget of this for FXIT of only 5.9K for a one-month of investor awareness looked decent enough.
As a traditional tool for a successful PR campaign, on the next day Forex Intl Trading Corp. released that it has arranged “an application service provider to obtain, aggregate, track and analyze shareholder trading information on the company” and to determine if illegal naked shorting or manipulating has occurred for the company’s stock.
Maybe, for holders of FXIT the above mentioned PR instrument had a not so positive impact on the shares performance, or such effect is still to be seen. On the same day, the price of FXIT rose slightly by 1.96% on some investor expectations for valuable news related to the company’s income generating activities or material changes.
For the other investors, not needing to make any analysis of possible share price manipulations, it was clear that FXIT pulled back and now gains momentum for the next in row 52-week high and for a shorters’ rally. During the last for the week trading session, the shorting volume of FXIT was with only 4% less than the 68% shorters’ portion in the total volume traded last Thursday.[BANNER]
Forex Intl Trading Corp. is a company involved in a business known to be profitable. The company gives access to its clients to the world foreign currency market over its web-based trading system. For the short time of being traded on the OTC QB market, the share price knows no significant declines. This week will be really hot for holders on FXIT, since the company provides its first stock promotion. At the same time, Forex Intl Trading Corp. has no released meaningful developments since the beginning of the month.
Even the importance of the announced lastly intentions to acquire an up to 40.1% equity interest in a U.K. regulated investment advisory firm named Nexus Capital Ltd. could be debated. To date, the base of the above deal is only a letter of intent, which is non-binding for both parties.
