On Friday, Sun River Energy Incorporated (OTC:SNRV) went through another intensive trading session.
On the same session, the value of SNRV stock increased 4.17% to $2.25 on a volume of 91 thousand shares. Compared to the 3-month daily average, the trading activity on Friday was three times higher.
The official FINRA website indicated that 47 thousand shares were exchanged in short transactions, which is roughly 52% of the total volume for the day.
Apparently, the stock continues to be moved by speculative forces as there haven’t been any news or reports recently to instigate the higher trading activity and the sharp price volatility.
On Friday, SNVR filed form D, which is a notice of exempt offering of securities. The document showed that the first sale of securities happened on Nov. 2, 2011 and that the offering would last less than a year.
The offering includes both equity, warrants and options. SNRV also specifies that one preferred share has a conversion right to one common share. In addition, the minimum investment accepted from any outside investor is $20,000.
