iPico Inc (CVE:RFD) (PINK:IPIFF) stock price jumped up on heavy trading with no news or events pointing out the cause, creating a ground for speculations.
RFD stock price bounced the bottom after an extended decline that was prevailing for roughly two months. The stock added more than 83% upon the sudden correction on 6.3 million in trading volume. This was 20 times the average stock turnover and the most active trading day iPico stock saw over the past two years.
No official news was out to cause such an explosion thus it could have been short squeezes that got the price rolling like that. As in most unclear cases, this might or might not have been induced by some sort of promotion. No public sources show anything of related matter. No insider trading was disclosed as well.
The stock had similar price surges in the past, all of which related to the poor liquidity and volatility. The only difference in the recent case is the massive trading volume, but it is doubtful if it will continue.
The burst might provoke a downtrend reversal or cause consolidation. It’s anyone’s guess at this points because of the volatility associated with RFD stock. The current market cap of $3 million can actually get even lower since the business holds a negative net tangible worth and generates constant losses from operations. There were no updates on operations since November 2010. The scarce up-to-date information is yet another reason why investors would not want to stay invested with iPico.
