Yesterday, Wallbridge Mining Company Limited (TSE:WM), (PINK:WLBMF) stock finally rushed up at the Toronto Stock Exchange(TSE) as investors must have had the feeling that WM is a piece of gold.
Though, such a brilliant stock performance was expected already two weeks ago.
WM closed the market at $0.180 per share on a volume that had not been seen since the beginning of the year. During the session, 2.3 million WM shares changed hands, while the average trading volume of the stock is less than two hundred thousands.
The slowly pulling down WM price on Monday rose 9.09% during yesterday’s trading session.
Such a stock stir was expected to be seen two weeks ago, when the company announced the discovery of copper, gold and molybdenum mineralization on three of its eight British Columbia properties. The company stated that the sampling has yielded high-grade copper values ranging up to 23.40% copper and elevated gold values up to 1.65g/t gold from chip and grab samples collected on the Mackenzie property.
On the same day, the good news was not reflected in the share price on the Canadian market. Moreover, WM closed without a price change and had a weak trading volume. Since then, up to yesterday there were no further news related to any developments of the company.[BANNER]
During the heavy trading of WM shares on the TSE, the “American” WLBMF stock soared only 2.10% on nine thousand share volume. A price jump of 9.25% and much more bids for WLBMF than yesterday were noted on Monday, or one day earlier.
A possible reason for such behavior could be the delayed investor reaction to the company’s news, which is however unplausible, given that information is broadly available. The company’s web page is also regularly updated.
Another reason could be the speculative interest towards Wallbridge Mining Company, for which the market is global, not local.
