Yesterday, the ‘STOP’ sign bearer Inrob Tech, Ltd. (PINK:IRBL) caught all investors by surprise as it almost tripled in value within a mere couple of hours. And while some traders definitely got lucky, the majority did not.
IRBL is by no means the perfect investment pick. The company has issued no corporate updates whatsoever for ages. Nor has it bothered to at least botch up a financial report. As a result, IRBL’s most current 10-Q form is more than 3 years old as it covers the three-month period ended Sept. 30, 2008. If this were not enough, the company’s corporate website is also down. Nevertheless, this does not necessarily mean that IRBL stock is utterly unable to make a breakout.
Closing at $0.0017, IRBL soared by a staggering 183% within a single trading session. No wonder that it proved more than enough to score a new six-month high. What strikes the most, however, is the incredible volume generated yesterday. With more than 28.65 million shares changing hands, IRBL set a new 52-week record. It is this extraordinary volume that hints at possible insider activities that might be currently going on.
No matter what, what is for sure is that as long as IRBL keeps investors totally unaware of its business activities, its stock will only remain attractive to those market traders who enjoy playing with fire.
