Yesterday, MMRGlobal Inc (OTC:MMRF) finished the trading session 4% higher than the previous close at $0.052. The trading volume generated during the session reached 2.920 million, which is roughly six times higher than the daily average.
According to the data published by FINRA, more than 680 thousand shares were exchanged in short transactions during the day. Thus, the short volume generated yesterday reached 255 of the total volume.
It seems that MMRF stock was influenced positively by the press release which was published yesterday on the OTC markets through the Market Wire system. The publication stated that MMRF had signed a $30 million non-exclusive patent license agreement with Surgery Center Management LLC.
Last month, the company filed its last quarterly report showing more liabilities than assets on it balance sheet. There was a slight increase in revenues and a gross profit. However, the bottom line remains negative with a net loss of $2.1 million, which is $500 more than the net loss for the same period last year.
The question about MMRF is whether it will continue to trend or enter a trading range after it has jumped up to a new 40-week high. For the short run, investors will have to watch whether the stock will generate some signal at the $0.055 resistance.
