After a long period of lack of any interest in FBC Holding, Inc. (PINK:FBCD), the stock has been traded more actively since February. Last Thursday and Friday were very impressive in terms of volume.
After a press release was published on May 5, FBCD stock suddenly became of significant interest. The price scored a 54.72% increase and closed at $0.041 on approximately 15.7 million shares. On Friday, the price pulled 2.44% back to a $0.04 close, but the volume remained impressive, 12.5 million.
While the PR seems like the most likely trigger for the volume highs, it should also be noted that on Wednesday FBCD had 32.5% rise on a slightly lower volume.[BANNER]
There were no promotions or news to account for Wednesday’s action, but whatever the reasons were, it managed to get the stock on traders’ radars and when the PR came out, the shares started changing hands quickly.
The announcement didn’t contain any updates as to how operations were progressing. It just stated that a conference call was to be held on June 1, 2011.
In August last year, FBCD acquired Super Rad Corporation, and according to recent PRs, the company has filed to change its name and symbol to reflect the new focus.
Super Rad produces collectibles. The company aims at different levels of the market, from traditional art to pop art.
The latest 10-Q available is for the period ending Jan. 31. It shows no assets and no revenues, versus substantial liabilities. The company announced it had converted some of its debts into preferred shares back in early April.
With some events coming up for the company, it may be worth keeping an eye on. Traders may need some more current information about the operations of the company to form a better and more solid idea about where FBCD is going.
