Sidney Resources Corp. (PINK:SDRC) provided shareholders with a spectacular stock market performance yesterday. The reason for it, however, doesn’t seem to be clear.
At the end of the session, SDRC closed at $0.0202, up 55.38%. The volume was also impressive reaching 5.6 million shares.
As for the reasons for the market performance, it is hard to find anything that would justify a positive price movement. The company has been around for years and hasn’t managed to provide any significant revenue.[BANNER]
As of June 30, SDRC had only $738 in cash and $284,365 total assets, versus $793 thousand current liabilities. Perhaps, this financial situation is the reason why SDRC doesn’t spend money on press releases, and on an expensive web site.
While inexpensive, the site is where shareholders can find updates on the company’s activities. However, there hasn’t been any news to justify yesterday’s gains.
At this time investors and traders can only guess what triggered yesterday’s buying. It should also be noted that the trading stopped before the end of the session. Keeping that in mind, they should be able to decide whether today will be anything like yesterday.
