Cardinal Resources Inc (OTCBB:CDNL) Gets Corrected

[[tagnumber 0]][[tagnumber 1]]There is no doubt that this year wasn’t particularly kind to the stock of Cardinal Resources Inc (OTCBB:CDNL) and its shareholders. The ticker was sitting below the $1 per share mark in the beginning of 2015, but had already dropped below 1 cent by the end of September.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company stock did try to recover some lost value in last month, but the upward movement was short–lived and followed by an equally steep decline. The beginning of this month saw [[tagnumber 6]]CDNL[[tagnumber 7]] a bit more stable, but the ticker has exploded recently.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After a November 16 press release that announced the company is in the process of installing a Red Bird drinking water system in Panama we saw the ticker rushing up the charts. [[tagnumber 6]]CDNL[[tagnumber 7]] finished the next six sessions in the green and gained a whopping 1081% in value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And while the management seemed very eager to keep investor attention and issued numerous press releases they seem to have forgotten to do a part of their job that is pretty serious, like posting the company’s financial report for the third quarter on time.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The lack of it leaves us to work with numbers that are nearly six months old and they aren’t pretty, either. We discussed that in our previous article alongside some other red flags, so it’s really not that surprising that [[tagnumber 6]]CDNL[[tagnumber 7]] came crashing hard after it lost its momentum and lost 36.26% in value yesterday.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In any case, be sure do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]