Looks like this week will also be devoted to Tuffnell Ltd (OTC:TUFF) stock gold rush.
After the released last week encouraging results from the phase one of the Little Butte drilling program, TUFF shares broke the thin gravel cover of investor uncertainty and headed upwards.
On Friday, TUFF entered the session higher than it closed the previous day, giving the impression that a price jump is to be expected. Though the strong start of the trading, the end of the week for TUFF was without a change in the share price from the previous trading session.
The only impressive change was in the trading volume. Exceeding five times the average volume for TUFF stock, it was the confirmation that investor’s optimistic mood may further continue.
As of Friday, the announced results from the phase one of the company’s drilling program were not able to rush TUFF stock to the extend that the decision of TUFF’s management to initiate the program did it at the end of April. At that time, while the management was in the process of analyzing initial exploration targets for Little Butte project in Arizona, TUFF was worth $1.21.
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The following months were a time of slow share price pull back. Even the stock alerts, which appealed that “TUFF could be another HUGE WINNER!” in the middle of July, did not have the power to convince investors to support trading above $1. As a result, at the end of last month TUFF stock hit its 52-week low at $0.43.
These days, the gold TUFF stock rush was caused not only by gold rushers. The desire to bank gains on good news pushed even shorters to join the battle for gains. This Friday, 52% of the total volume traded was due to the shorters’ activities.
