Last week Legend International Holdings, Inc. (OTC:LGDI) experienced an unusually volatile trading.
On the first place, last week the trading volume was conspicuously higher than usual. The heaviest trading was registered on Monday, Dec. 27, when nearly 3.2 million shares were exchanged.
The trading volume remained higher than the daily average during the whole week. On Tuesday, the share price of LGDI stock registered a 100% jump which happened on a volume of 2 million shares.
During this session, LGDI saw its share price rise from $0.1 to $0.2. However, during the following two trading sessions nearly all of the gain was corrected as LGDI plunged on Thursday and Friday by 25% on each day.
On the last session LGDI finished at $0.1119 per share which coincided with the intraday low of the stock.
Last week there were no news or reports from the company apart from two Form-4 filed on Tuesday and Thursday. The first form indicated that one of the company’s beneficial owners called Attara Capital LP had disposed of 182 thousand shares of LGDI common stock.
The second form, which was filed on Dec. 29 reported that Attara Capital LP disposed of another 1,064,500 shares of LGDI common stock. This means that 55% of the total volume on Thursday was generated by the insider trading.
