PetroTerra Corp. (OTCMKTS:PTRA) has recently been the target of a series of promotional campaigns from Wall Street Report. The promotional emails being sent on October 13 and October 11 stated that the outfit Wall Street Report was being paid $150,000 for the pump.
Just like almost all firms that have been a target of pumps, PetroTerra has an unrealistic business plan, few employees and abysmal financials. This suggests that there is hardly any opportunity to gain from the investments made in the company, and in the weeks following the paid promotion, the stock may once again fall below its closing price of October 13.
The highlights
As per the recently filed Form 10-Q, PetroTerra was established under the defined guidelines of the State of Nevada in 2008. It is an independent development and exploration firm focused on the acquisition of assets that consists of extractable gas and/or oil.
The Company intends to identify, assess and purchase gas and oil exploration and development prospects primarily within the U.S. PetroTerra has not recorded any revenue to date and thus its businesses are subject to all risks inherent in the incorporation of a new business entity.
The buzz
PetroTerra, which claims to be an oil and gas exploration firm, boats a nice, well-designed website which has numerous pictures and a neat interactive brochure. The website makes visitors believe that it is an ambitious oil and gas exploration company. Unfortunately, the company has not updated the site since July.
Here, it is interesting to note that PetroTerra stock price has jumped in the absence of any published or promoted company developments. Definitely, in case of an accomplishment, the company would prefer to issue a PR in order to keep its shareholders updated. However, it is not the case and additionally, there is a significant inconsistency between the information available on company’s website and its actual financial situation.
PetroTerra Corp. (OTCMKTS:PTRA) continued its short term rally for the third consecutive day as it ended the last trading session with a huge gain of 31.25%. The volume surged to 1.3 million, not only much higher than the daily average of 158,000 but also the highest volume in a day in the last 12 months. The breakout had taken place from a long term base built over the last few months and the gap preceding the breakout added to the power to a great extent. All shorts are getting covered right now as the rally is scary enough for all the bears.
