Traders interested in BioPharm Asia, Inc. (PINK:BFAR) certainly have a good reason to remember the latest trading session which took place yesterday. For it marked BFAR’s most successful chart run for quite a while.
Closing trade at $0.084 per share, BFAR gained a staggering 65% in value. Thus, it scored a two-month high. As far as the turnover is concerned, more than 2.7 million shares of common BFAR stock changed hands, which in turn set a six-month record for the company.
Surprising or not, there are no evident reasons for BFAR’s explosive market behaviour yesterday. Its latest press release about the acquisition of a specialty hospital in the Chinese Fujian province came up two weeks ago and its potential is to a large extent exhausted. Promotionwise, the situation is no different as BFAR has not been promoted for 10 months already.
In terms of financials, there is nothing investors could expect, either. Last May, the company sent a notification of late filing regarding its report for Q1 of 2011. An appropriate quarterly report never surfaced or, at least, has not surfaced yet. The same goes for the 2010 annual report.
Whatever gave BFAR such a great boost yesterday, it must only be known to insiders. Otherwise, more traders could have reaped the benefits thereof.
