and its traded volume jumped over 140 million shares for a day. Considering the fact that VYGO was falling down on the day before, that’s quite an unusual gain for the stock.The only reasonable explanation on the high trade turns out to be the latest news by Voyager. Yesterday, the company announced it has executed a Letter of Intent that planned an exchange of capital stock of Voyager for all the outstanding capital of Scrap, LLC. According to the announcement, the Letter was contemplating a definitive agreement “on or before December 31, 2010”, being considered as a great opportunity for expanding the companies’ services and increasing the shareholder value.[BANNER]
As soon as the news was on, it grabbed traders’ attention and pushed up the stock price at once. It also opened a discussion on investorshub.com message board. However, the final results are up to be seen next year.
Voyager is a publicly traded mid-market petroleum based brokerage in the USA. Throughout the year, the company has traded much lower, though after the agreement news was released VYGO flew up. However, the most interesting fact here is that Voyager has not filed with the SEC for already two years. According to otcmarkets.com, in August 2009 a form for termination or suspension of duty to file reports with the SEC was signed by Sebastien DuFort, CEO of VYGO. So, currently nobody is familiar with the financial condition of Voyager.
In that case, isn’t it too early for the sudden up move to be confirmed?
