During the last for the week trading day, Phoscan Chemical Corp. (TSE:FOS), (PINK:PCCLF) stock got suddenly awakened like the Sleeping Beauty by the Prince- investor.
On no news from the company since last month, the share price rose by 27.27% between the sessions, maybe on the competitive potential of the company and its shares.
On Friday, the rushed strongly FOS closed at $0.56 per share on a trading volume exceeding twelve times the average daily volume of the company.
Like in the fairy tail about the Sleeping Beauty, the Prince- investor kissed FOS stock and it “…woke up, then everyone in the castle woke to continue where they had left off, and everyone else lived happily ever after.” The most happily appraised fact was that the closing price of FOS was the same as the new 52-week high.
The last official news about Phoscan Chemical Corp. is from the end of last month, when the company announced the start of its program for evaluating the potential recovery of niobium and rare earths contained in the Martison Property. Even though the shares’ demand was huge, it was not as strong as it was on Friday.
Looks like the investors holding short positions and those that made a preview of the last presentation of the company considered becoming the prince from the fairy tail to make a miracle with the performance of the shares.[BANNER]
In the above mentioned presentation, Phoscan Chemical Corp. presents useful information related to its competitive advantages, like the North American phosrock production decline and the increased pricing power for phosrock producers.
Even if the company has good financial standing and prospective business, it was not probable to expect a share price explosion like that on Friday on no further news.
