Dutch Gold Resources, Inc. (PINK:DGRI
, DGRI message board
) has been on a negative momentum in the last couple of days.
The stock value has been declining on increasing volume without any issued news by the company.
The first decline happened last Thursday when DGRI went down 16.67% to $0.002 on a volume of 10 million shares.
On the following day DGRI continued its downward move. It closed 15% lower than the previous close at $0.0017 on a volume of 13 million shares.
The peak in the negative movement happened yesterday when the stock finished another 11% lower. Thus, it closed the session at $0.0015.
The trading volume reached nearly 36 million shares, which is several times higher than the three-month daily average.
The short volume reported by FINRA was in the amount of 2.3 million shares.
The company hasn't issued any news for some while. This way the stock has been left to free float on the open market.
It seems though that the lack of news is starting to make some investors apprehensive, resulting in more selling pressure on DGRI. Thus, the stock has lost a considerable chunk of its value since November when the last official report of the company was filed.