BMB Munai Inc (PINK:BMBM) scored another session of high volume yesterday. At the closing bell BMBM shares had hit $1.07, which represents no percentage change as compared with the previous close.
A total number of 2 million shares were exchanged during the session, which is more than twice the daily average. The short volume data from FINRA indicated that 560 thousand shares took part in the short volume for the day. In other words, that makes 27% of the volume generated for the day.
In general, BMBM continues to move in the trading channel that was formed after BMBM spiked up after the news for cash distribution plans. In the last three sessions, BMBM has been hovering around the support at $1.
One week ago, BMBM filed a POS AM form with the SEC concerning the removal from registration of unsold securities. The document said that a batch of convertible senior notes in the amount of $61 million declared in 2008 had been repaid and redeemed in full prior to any conversion.
In the last session, BMBM showed that selling and buying powers were on par, so the next moves of BMBM stock will be indicative of which power will take rule next.
