Yesterday Takedown Entertainment Inc (OTC:TKDN) rose up significantly after serving a fresh piece of news on the market.
The company’s share value soared 79% to $0.12 on a volume of more than 3.9 million shares. TKDN piratically registered one of the highest trading volume in its history.
Curiously, more than half of the trading volume yesterday was generated through short sales. FINRA disclosed that 1.8 million shares were exchanged in short transactions. In more precise terms, this makes 56% of the whole volume.
The spike happened close to the recently registered 52-week low of $0.06 per share.
The reason for this unusual activity around TKDN stock was the published press release on the OTC Markets Bulletin Board. It came yesterday and announced the company had signed a letter of intent with Pacific X-treme Combat for the acquisition of worldwide media distribution rights to its fight archives and future MMA fights.
