BFC Financial Corp. (OTCMKTS:BFCF) Rising, Seemingly Our of Nowhere
The stock of BFC Financial Corp. (OTCMTS:BFCF) was sliding down the charts for more than 2 months now and yesterday’s big gain came as a surprise, especially when you take into consideration the fact that there haven’t been any press releases coming from the company itself.
BFCF hasn’t been doing any significant percentile movements in a while, but the general direction it was heading was southern. Friday’s session wasn’t any different as the ticker lost 2.08% of its value, making the total loss from the peak in the end of July come at 17%, which, with a price of above $2 per share translates to quite a few cents.
The volume was 5 times the tickers average and with its PPS it helped generate a trade value of $1.28 million in Friday. Monday, however, was more refreshing, even though the volume was kept near the ticker’s average of 90 thousand shares.
Yesterday, BFCF registered a decent 11.91% gain in price, while trading was equally scattered throughout the session. The peak value was recorded at around 01:00 PM and was as high as $2.70 per share. The stock dropped slightly down, but regained some of its value and managed to close the day priced at $2.63 per share with a total of 128 thousand shares switching hands, generating a trade value of $331 thousand.
As mentioned above, there aren’t any recent press releases from the company and the gain in price came out of nowhere. Also, the most recent touting of BFCF‘s stock wasn’t that significant. They were mentioned by LeadingStockAlerts alongside several other companies on September 27, so the gain comes a bit late to be considered as an effect of the tout in question.
We think that the gain at this moment is unstable and the first signs for that come from today’s market open when BFCF gapped down and opened at $2.59. The stock went further down and hit as low as $2.52, so there is a chance the ticker might lose half of what it gained yesterday.
All in all, considering their latest financial report, which shows that they weren’t as profitable as last year we consider BFCF a risky investment choice, especially with the lack of news. In any case, be sure to do a lot of due diligence and weigh out the risks for yourself. After all, BFCF isn’t one of the cheapest stocks out there.
On the other hand Globalstar, Inc. (OTCMKTS:GSAT) is still recording big dollar volumes and after the successful end of last week the ticker seems to be gathering momentum in an upward direction. The situation is not so rosy for Biozone Pharmaceuticals, Inc. (OKTCBB:BZNE), who lost a hefty 25% of their value in the first session for this week.
