PetroTerra Corp. (OTCMKTS:PTRA) Turns Bright Red
PetroTerra Corp. (OTCMKTS:PTRA) started yesterday’s session out with a nice gap up, but it was immediately obvious that it was struggling to maintain its altitude in spite of the pumps that kept coming its way. By the middle of the trading day, the ticker was already dipping below the previous close, and by the time the final bell rang, it had fallen 10.88% short.
Truth be told, the only surprise here is that the ticker didn’t plummet even lower. Usually, when such a big and successful promotional campaign goes sour, the ticker is sent tumbling down to the bottom of the charts. Interestingly enough, that didn’t happen to PTRA yesterday, in spite of the high volume. However, that isn’t necessarily a reason for joy.
The ticker will have plenty of opportunities to “Crash And Burn” as Hunter Straus writer from Seeking Alpha put it. And since we’re talking about a paid pump that reached a lot of investors, there’s a high probability that it will do just what he predicted.
This is why any investor still holding on to PTRA shares should keep a close eye on the ticker. in this case, a moment’s hesitation could prove the difference between a successful damage control and utter disaster.
That having been said, opportunistic traders with the right attitude may still manage to make money from PTRA if the next volley of pumps manages to help the ticker recover. However, that’s assuming that said round of touts even happens and manages to convince anyone to buy.
Long story short – this is a pivotal moment for anyone who’s played PTRA or intends to do so. Since this is obviously an extremely volatile situation, we advise that investors exercise due care and caution.