Bluestem Group Inc (OTCMKTS:BGRP) Drops On Impressive Volumes

We rarely cover the stock of Bluestem Group Inc (OTCMKTS:BGRP) and there is a very good reason for that. The company records most of its sessions without even a single traded share and rarely attracts a lot of investor attention.

If you have followed BGRP you would already know that there is a pretty good reason for the red STOP sign in its OTC marketplace profile. The company’s latest filing covers the quarterly period ended March 31, 2009. Since then BGRP has been announcing its unaudited financials through press releases.

Looking at the impressive numbers that BGRP is reporting we can’t help but wonder how the company doesn’t have an accounting firm to do and file their reports, even by the OTC marketplace alternative reporting standard.

Meanwhile, the company itself isn’t issuing any new press releases and everything looks quite shady. Yesterday the company stock lost 11.97% of its value and closed the session at $1.25, having lost a total of 50% since the beginning of the month. The 2.89 million shares that changed their owners generated $3.59 million in daily dollar volume, making it one of the most heavily traded stocks of the day.

BGRP is more stable today and will most likely return to obscurity until the next intense session. Be careful and do your due diligence if you have any thoughts of making a play.