Today began the short-term run of a penny stock we covered back in the beginning of January: American Graphite Technologies Inc. (OTC: AGIN). Traders after 9:45AM all loaded up at roughly the same level on AGIN stock just a couple of hours before the Company issued its first PR in over a month reminding the public of their January 25th announced strategic partnership with CTI Nanotechnologies LLC to further the development and commercialization of Graphene Paper. Being that they wound up landing on the top 20 penny stocks traded on the OTC on just their first day makes the chances of this being a long winner slim to none.
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AGIN Stock Quote
Market Cap: 81.35M
Last: 1.04 ▲ 0.15 (16.85%)
Dollar Volume: $1,001,719
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The text issued by American Graphite Technologies today was plain and simple: In addition to the commercialization of graphene specific proprietary technology, American Graphite Technologies Inc. is focused on developing North American graphite mining opportunities to maximize shareholder value.
Well, I am focused on being 6’6″ and being able to dunk from the free throw line, but that hasn’t been working out too well for the last 25 years.
Traders will be playing AGIN stock based on the hype of a new graphite focused stock out there, a new issue, and the fact that a hard mailer campaign has apparently already begun. Lest we all remember that once you hit the top 20 penny stocks traded list on the OTC, you have a responsibility of shooting upwards consistently. Big money, $1 plus penny stocks like GNIN and ECAU didn’t even see the top 50 until they had already established themselves a strong support base, weeks after their first shares hit traders accounts.
About AGIN Stock
American Graphite Technologies Inc. is a development stage, mineral exploration and technology development company focusd on securing graphite mining opportunities and the commercialization of graphene specific proprietary technology methods.
Last 5 Trading Sessions:
Bottom Line: In our opinion, AGIN came out way too high, too fast for penny stock traders to see any real strong gains off of it. Priced over $1 before lunch and already in a very high profiled spot, it will take a lot more than a hard mailer campaign to keep AGIN stock up above its current level over a one month or more course.
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