Changes in management are known to increase investor interest in publicly traded companies sometimes. NeuMedia Inc. (OTC:MNDL) announced Fred Goldring joined its advisory board, but that was nearly a month ago.
Last Friday, approximately 2.6 million MNDL shares changed hands. At the close the price was $0.475, 1.06% up. What caused that active trading session? Apparently nothing.
After the aforementioned change in management, MNDL hasn’t released any PRs. On top of that, the PR didn’t seem to cause any significant market reaction at the time. As far as we were able to ascertain, there are no active promotions either.[BANNER]
There is a relatively recent SEC filing about some shares being sold by Coast Asset Management. It is, however, from Jun. 2, which makes it a highly unlikely reason for Friday’s performance.
NeuMedia, Inc., f/k/a Mandalay Media, Inc., operates through two subsidiaries. One is Twistbox, engaged in the publishing and distribution of entertainment content; the other is AMV Holdings Limited, a mobile media and marketing company.
MNDL hasn’t filed a quarterly for a period after Dec. 31. At this time the trading activity remains a bit of a mystery.
