Do you enjoy trading with highly volatile stocks? If so, then you must be pretty well acquainted with the stock performance of Cooper Holding Corp. (PINK:COHO).
A quick glance at the chart showing how COHO stock has been moving for the last six months is indicative of its fairly unpredictable nature. Only two days ago, COHO soared by a staggering 120% on a heavy volume of 42 million. Yesterday, COHO added a further 18% in value, closing at $0.0013 per share with a turnover of 38 million. So far, so good.
That is why, it is hard to believe that prior to the last couple of sessions that same stock had taken a series of huge nosedives which had lowered its value to a mere $0.0005 per share. So, what has driven COHO back up?
On the one hand, COHO has issued no official press releases for more than 10 weeks now. On the other hand, it has only been a week since the company published its latest quarterly report for the third fiscal quarter of 2011. The document disclosed:
- cash reserves of $13,600;
- negative working capital of $560K;
- nine-month net loss of $214 thousand.
