Gediminas Jasionis
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Stellar Pacific Ventures Inc. (CVE:SPX) (PINK:STLXF) Gaped Up Without News

by Gediminas Jasionis Apr 11, 2012
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4spx_chart.pngStellar Pacific Ventures Inc. (CVE:SPX) (PINK:STLXF) stock price gaped up as the stock became more popular, most likely due to an upcoming distribution of shares, the company got in return for a sale of property.

SPX gaped up 15.8% as the market opened on Wednesday. The daily trading volume could reach the highest value recorded over the past years if traders continue to be this active.

The stock price is also very close to hitting a new 52-week high, although the intraday price action reveals poor liquidity and choppy price movements. This kind of behavior shows there is a limited number of traders viewing the stock, and technical pattern might not develop to attract more liquidity.

The company had no news since publishing their quarterly report on April 2, more than a week ago.The books revealed a $3.5 million increase in company's book value over the past half a year, mostly on account of new investments. On the other hand spending increased as well - net loss for the latest three month period toped 462 thousand, more than twice what was spent last year.

4stellar_logo.jpgThe increase in book value was caused by the sale of Quebec properties back in December 2011. The company now holds 22 million shares of TomaGold Corp., which paid in stock to acquire the properties.

All shareholders of the company will be eligible to receive, pro rata to their shareholding, a portion of the 16.5 million TomaGold shares which are scheduled to be distributed on April 30, 2012.

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