These days, the buyers’ strikes on Mega Brands Inc. (TSE:MB), (PINK:MBLKF) stock are winning the game of the company’s share price performance.
The announced by the company information about the forthcoming third quarter financial results is building a real rush for Mega Brands Inc. stock.
Two days ago, Mega Brands Inc. announced that they will present the financial results for the third quarter ended September 30, 2010 to investors next Friday.
On the news, investors’ optimistic mood returned, maybe to compensate the released by the company earlier this month news that was entirely reflected in the share price.
Yesterday, MB soared 9.09% on a volume of more than 2.3 million shares changing hands. Although the closing price of $0.60 per share was far away from its 52-week high, investors overcame the psychological limit of the half a dollar trading range for MB.[BANNER]
On The OTC Grey market, the bids on MBLKF stock were also dominated by the buyers, resulting in a 17.44% share price increase.
At the beginning of this year, Mega Brands Inc. initiated a recapitalization transaction in order to improve its financial position and capital structure. Though the positive effect on the company’s financial standing, after the transaction Mega Brands Inc.’s share price was influenced in a way that can hardly be called positive.
As a result of the recapitalization, the newly issued shares saturated the market. Since that time, MB stock is traded for much less than $1.
