American Graphite Technologies Inc (OTC:AGIN) Heading Further Down

American Graphite Technologies Inc (OTC:AGIN) has already cost those who bought the pumpers’ claims a significant part of their investments, and it’s likely to continue its descent.

Yesterday AGIN dropped another 18.27% to $0.899 per share. The volume fell shy of 1.9 million shares.

There’s a chance the volume will remain relatively high in the coming sessions, as people may be trying to minimize losses. Getting out won’t be easy though. The people who have been holding free shares since before the pump can afford to dump them at virtually any price, and still get some profit.

The company filed an 8-K concerning a change in their independent accountant, but the change took place on March 15, and it’s unlikely to have any effect on the market performance of AGIN.

For those who took the bait, it may be too late to get out without taking a loss. The whole experience can still hold some value. Next time they get an email saying some company is going to surge, they may look at it with more sober and critical eyes.

As mentioned in previous articles, there were plenty of tell-tale signs of what the real deal is with AGIN. Relatively recent forward splits before a stock has started trading actively, murky acquisitions of unexplored properties, past performance of the management and the pumpers are just some of the things traders should check before making a decision.