Rotate Black, Inc. (PINK:ROBK) is a company which supposedly develops and manages resort and casino properties. ROBK stock trades sporadically, but yesterday the volume was unusual.
ROBK closed up 20.20% at $0.238 with 177 thousand shares changing hands. The average volume for ROBK is just short of 15 thousand.
There doesn’t seem to be any reason for yesterday’s market performance. The company hasn’t issued any press releases since announcing the final submission of the documents to the Alberta Gaming and Liquor Commission back in November, 2011.[BANNER]
The latest filing is an 8-K filed soon after the aforementioned press release. It states that a lawsuit against ROBK had been settled, and the company had been released of all claims. It was not the only time ROBK had been dragged into court.
At any rate, the company has been silent for a long time. The financial information provided by ROBK is outdated and it wasn’t all that optimistic anyway.
It is hard to call yesterday’s activity anything else but a random speculative move, but then again, there are probably very few people who would care to understand what it was.
