Anastas Gegov

Sanborn Resources Ltd (OTCBB:SANB)'s Ups and Downs

by Anastas Gegov July 29, 2013

922LOGO.pngThey were pumped in the regular way, using newsletters on July 11, but we saw quite a few other places where their stock was touted. There was an article posted about them which drew a lot of attention and at the bottom of the page it becomes clear that the promotional budget is no less than $3 million.

That's quite a lot for a stock promotion and we reckon that investors are ready to dump stock even now (that is if they have even stopped doing so). The last 4 days ended in the red for SANB's stock, but trading isn't getting any lower. In fact, Friday's volume was quite larger than their average of 373 thousand with a total of 1.2 million shares switching hands.

The price went 15% down from $0.424 to $0.359 with the highest volume of stock in 2 weeks. Even though the price went down, the amount of stock that was traded generated a trade value of $527 thousand, which is quite a lot.

SANB seem to be starting the week good as their stock has been heading in a northern direction since the market opened with a current gain of 19% in price. They opened the day with a value of $0.39 per share and even though there was quite a lot of dumping in the early minutes their price headed on a steady climb and is currently nested at $0.43.

1XUII_chart.pngThe volume is also quite big as they are closing in on the volume traded in Friday with 945 thousand shares that have been already traded in just over 1 hour of the trading session. The trade value generated until this moment is estimated at $380 thousand and we reckon that they are going to best their Friday session. Even though they are having a promising start of the week don't forget that they are a very risky stock and be sure to do your due diligence and weigh out the risks before making a decision to invest in them.

Even though SANB is traded with increasing volume and trade value, probably the most hot stocks in Friday were those of Xumanii, Inc. f/k/a Medora Corp. (OTCMKTS:XUII) and Sould and Vibe Interactive Inc (OTCBB:SOUL). Even though XUII lost 26% from its price per share the total trade value for the day came at $8.6 million and they closed with a price of $0.2875. On the other hand SOUL gained 29% closing with a price of $1.48 per share with a total trade value for the day of $7.2 million.

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