Firefish Inc (OTCMKTS:FRFS) Running Back Up The Charts

We are taking a close look again at Firefish Inc (OTCMKTS:FRFS), because new information was released and the market has reacted to it positively.Our readers will remember well that, according to iHub, FRFS had been acquired by GIFA Inc. We noted in our previous article that the company had not released much information and nothing could be found on the OTC Markets website. In addition, we remarked that the company needed to communicate the new good information, so that the whole market got to know the good news.The interesting thing in this story is the reaction of some market participants, who did not want to wait for the official news from the company and purchased shares. As a result, on November 3, 2017, the share price spiked up.What's new?We could see, very recently, a similar price reaction in the stock charts. From $0.01, the share price increased up to close to $0.04 delivering astonishing returns to the market. Additionally, the amount of shares that changed hands also increased. The trading volume was close to 21 million.Have a look at the following stock chart: 1 month chart for FRFSIs there new information?Not directly from the company, but, new and valuable information is available at the iHub website. iHub members found news from December 22, 2017 noting that GIFA INC opened up a new building in Nicosia, wherein the company will have 300 employees. Additionally, the company noted that the Casino and the Hotel projects will be targeted in 2018.We believe that the positive tone in that post made the market react once again.We will provide all the new details as well as the reaction of the OTC Markets exchange in this new article.Recent DevelopmentsThe market seems to be giving credibility to the new information posted on iHub, so we need to show the new information.This is an image taken from the post from December 22, 2017 on FRFS, which market participants could find: Image from iHub - Firefish Inc OTCMKTS:FRFSThe original news comes from this website, which is written in Turkish, and we have translated it to English as the IHub members did. Please note that the company is expected to open a new stock market on December 28 and 300 staff will be needed for it. But, the most interesting is that the company expects incredible growth in the year 2018. The number of expected employees for the next year is quite large: News from GIFA using translate.google.com - Firefish Inc OTCMKTS:FRFSThere is more.In this news from oncevatan.com, the company noted that it is selling 30 percent of its foreign shares. This is obviously a good sign. It shows that there is demand for the stock. Chairman, Yusuf Short, said the following in the announcement:

"We are a very strong company with an international network as GIFA, and many of the activities that we have already carried out are activities outside the island, especially in Iranian businessmen who have been asking us to sell our shares. we received a sale decision, and after this sale, $ 700 million will be transferred to GIFA Holding, which will add even more power to the existing power. " Source

What's our take?Some market participants are receiving fantastic stock returns from the company. We congratulate them, but we believe that being cautious in this case is quite necessary. We need the company to release all the information using the OTC Markets website; that's the way it should be done in the United States.The reaction of the OTC MarketsOn December 4, 2017, the regulator noted once again that it had added the Caveat Emptor symbol next to the stock symbol on the OTC Markets website.As we said in our previous report, if the share price volatility is not justified with news, the exchange needs to react to protect market participants.What's the Caveat Emptor signal?The Caveat Emptor symbol means that market participants need to "exercise additional caution and perform thorough due diligence before making an investment" decision in FRFS.What happens now?The company will need to contact the exchange and explain what's going on with the share price. If the information noted in the iHub website is true, they will have to confirm it.Short Sellers and ConclusionAnother interesting feature of the company is that the short interest is diminishing. This is a great news, as when short sellers close their position, they need to buy, which pushes up the share price.Have a look at it:DateShort Interest% ChangeAvg. Daily Share VolumeDays to CoverSplitNew IssueNov 30, 201755,096-79.891,258,8711.00NoNoNov 15, 2017274,00713.7413,275,0931.00NoNoOct 31, 2017240,910100.0035,093,1121.00NoNoSourceCurrently trading with a market cap of $4.4 million, FRFS is an interesting story among small caps. In our opinion, if the company becomes more transparent and confirms the acquisition, the share price could creep up. Until this happens, we believe that checking the announcements from the company is a must.We will be updating our subscribers as soon as we know more. For the latest updates on FRFS, sign up below!For the full story on FRFS, check out our complete coverage.Disclosure: We have no position in FRFS and have not been compensated for this article.Image courtesy of GoToVan via Flickr