In the previous two sessions Ireland, Inc. (OTC:IRLD) nearly doubled for no apparent reason. So far in today’s session IRLD has managed to match yesterday’s close.
At $0.80 per share the previous session IRLD was 21.21% up. The volume reached nearly 550 thousand, more than ten times the daily average for IRLD.[BANNER]
The price increase is still something of a mystery. The most recent press release by IRLD dates back to Feb. 16 when the company reported the results from a bulk gravity concentration test. The announcement had virtually no effect on the market performance of the stock.
There aren’t any recent filings to account for the surge either. The $0.80 price does bear some significance, however. IRLD is conducting a private placement which includes warrants exercisable at $0.80.
IRLD is an exploration and development company. The latest balance sheets looked stable, but the company isn’t generating revenue yet. Without any news from IRLD, the current levels seem strange and may puzzle some investors.
