The last two sessions of Kiwibox.com Inc. (OTC:KIWB) went under a conspicuously higher trading activity than usual.
On Thursday, the trading volume of KIWB exceeded 4.5 million shares, while on Friday more than 6 million shares changed hands. This is several times higher than the 3-month daily average volume.
The data for the short volume published by FINRA was even more impressive. It appears that almost all of the trading volume during the last two trading sessions was generated in short transactions.
In this regard, FINRA shows that for Thursday the short volume for KIWB has exceeded 4.5 million shares. The exact ratio between the short and total volume is 0.99, which means that 99% of the volume on Thursday was generated through short transactions.
The data for the short volume on Friday is similar. FINRA listed 6.024 million shares in the short volume on Friday. This means that short volume was 99% of the total exchanged shares, as well.
Apparently, the last two trading sessions of KIWB were highly speculative in nature. Consequently, KIWB fell 6.67% to $0.042 on Friday.
