Gediminas Jasionis

1st Global Financial (PINK:FGBF) Traders Still Wait for the Official Merger Confirmation

by Gediminas Jasionis October 18, 2010

The company should be consulting their legal advisors right now, but no guidelines for the official filling were yet announced. If the merger is completed, the non-reporting shell company will finally get a business model, which would make the stock price break out into the blue sky territory.

1st_global_financial_logo.jpgHowever, in the meantime speculations are the driving factor and Friday's price and volume behavior shows that the buying pressure is already fading off. Shorting this kind of stock is rather challenging due to liquidity issues, even though the next couple of sessions will likely see depreciation in the price.

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