You On Demand Holdings, Inc. (OTC:CBBD
) share price jumped up all of a sudden yesterday and crossed the 200-day moving average. The stock got also unusual volume for which there is no apparent reason currently.
CBBD closed the session at $0.08 for a share with a 18.52% increase from the previous day. The trading volume was nearly 3.45 million shares and it has been accumulating over the past few days. That led to two consecutive jumps of the share price and to the highest value for CBBD since the end of August 2011.
Such a trading pattern indicates that a third jump for CBBD is likely to follow today, although there is no recent news or other events that could have initiated increasing share price and trading activity.
Otherwise, there has been plenty of announcements from You On Demand Holdings this year. Lastly the company said it had signed an agreement with Jilin Cable to promote certain Hollywood blockbusters and Chinese films over Jilin Cable's Video on Demand Service. Previously, CBBD announced another exclusive deal to oversee the services of a large premium movie channel in China.
Both press releases do not mention in detail whether the agreements will have any significant effect on the company's sales, which have declined on an yearly basis in the third quarter of last year, and the stock does not appear undervalued as well. Thus, there must be other reasons that have attracted traders to CBBD shares on Friday last week.