to its share price, while its traded volume rose to over 708 thousand shares. A huge value as compared to the average volume of 159 thousand shares.However, no reasonable explanation on the high trade can be found. There is no recent news on the company’s activities, though something has provoked the investors’ interest.
CNOA is a diversified company based in China and primarily engaged in processing and distributing high-quality natural food. In August, the company filed its financial report and no other news can be found since that time.
At the beginning of this year, CNOA used to trade over 50% higher than now, however, in January the price entered a downtrend. This month, the stock is moving up, but nobody knows how long the up move can survive.[BANNER]
According to its quarterly results, the company’s total revenue has decreased as compared to the previous period. Still, CNOA is satisfied with its financials and anticipates they will be sufficient to meet its operating needs during the next twelve months.
However, the management claims that they may need to raise additional capital through credit facilities or the issuance of equity “in order to fund acquisitions and any substantive constructions”.
In the meantime, investors should carefully follow where the current up move of CNOA stock price will go to.
