Firefish Inc (OTCMKTS:FRFS) Rockets Up The Charts

Today, we are going to talk about a new profile that has surprised the market recently. Its name is Firefish Inc. (OTCMKTS:FRFS), which offers mobile and internet marketing services to the retailers along with educational services to young learners and young adults.The most interesting was the most recent market movement. From $0.0039, FRFS went to touch the share price level of $0.07 in only four days. Company LogoWe prefer to highlight something that some market participants may overlook. The trading volume, which is one of the best indicators of market interest that exist, was very significant. The amount of shares that changed hands in this short time period was almost 40 million. This is not only large, rather it is the largest volume seen in the last six years.Have a look at the stock chart and form your opinion, before we let you know what may be going on: 6 year chart for RETC 1 month chart for FRFSBusinessFirefish was founded in Nevada on April 29, 2008. The company offers different services including mobile and internet marketing services along with educational services. Additionally, it is the organizer of the English, Math and Science competency competition referred to as the Primary Olympiad. All the services are offered only in India. The company has an office in Mumbai and another one in New York, where the company is headquartered.Let's provide some history of the company. We believe that it is inspiring.It was initially founded by an "Indian engineer, Harshawardhan Shetty, the CEO, to offer social networking services and ancillary offerings to the 18-24 year old, lower-middle class demographic."In order to fulfill this ambitious business purpose, the company built a social networking platform with several features. It is targeting two distinct business lines:

"(1) text message advertising services to retailers wishing to market their services to our social networking community and (2) educational services to current and potential members of our social networking community such as English language training/certification and English competency competitions." Source: Annual Report

Source: https://www.primaryolympiad.comWhat may be going on? - It is a low float runnerThe interesting fact about the company is that nothing has been released to the market for a long time. This makes explaining the latest share price reaction very difficult.On the iHub forum, wherein the company seems to be popular, there are market participants saying that the company may change its name soon and file new documents. They say that a new owner may be coming, which would explain the share price movement. But, quite honestly, till the company discloses this information to OTC Markets, we do not believe it. There is no proof of any market transaction.The following are the share capital statistics reported in the OTC Markets:Authorized SharesNot AvailableOutstanding Shares127,482,504a/o Aug 12, 2013-RestrictedNot Available-UnrestrictedNot AvailableHeld at DTCNot AvailableFloatNot AvailablePar Value0.001SourcePlease note that the float is not given on the OTC Markets website. But, we did some research and found out that only approximately 49% of the total outstanding shares are owned by the public.What does it mean?It means that if big shareholders buy or sell big stakes using market orders, which they usually do, the share price changes a lot. Thus, market participants should be expecting quite a bit of share price volatility. We highlight this fact, not only because it helps explain the last share price movement, but it may also interest market participants looking for volatility games in the OTC Markets universe.ConclusionCurrently trading with a market cap of $4.5 million, FRFS share price is moving quite a bit recently and it is difficult to explain why.We believe that the company may release some information soon. If it is preparing a transaction, entering into a new industry, the share price volatility could be explained.Finally, if a shareholder is buying or selling big stakes, he/she would usually communicate it to the market soon. Thus, we will need to be alert on the OTC Markets website as well.To sum up, check the next announcements, as they may explain the recent share price dynamics. Also, for those looking to play market volatility, here you have a new stock to trade.We will be updating our subscribers as soon as we know more. For the latest updates on FRFS, sign up below!Image courtesy of markofsoton via FlickrDisclosure: We have no position in FRFS and have not been compensated for this article.