Cardinal Resources Inc. (OTCMKTS:CDNL) Gets Back On Its Feet

Cardinal Resources Inc. (OTCMKTS:CDNL) managed to maintain its upward momentum even after the weekend break – but will its climb last much longer?

Right now, CDNL is once more headed for the two cent mark, and this time there seems to be no good reason for that. The company has made no new announcements, filed no new reports and there are no paid or even unpaid pumps targeting it – as far as due diligence is concerned, there is nothing of any particular significance going on here.

And yet, the ticker is surging once more – which should make investors more than a bit wary.

True, there have been some encouraging developments surrounding CDNL in the not so distant past. The company’s success in getting its hands on some serious cash is commendable, and the fact that its CEO is stocking up on CDNL shares has certainly been taken as an encouraging event.

However, those positive developments seem to be eclipsed by the fact that investors are still in the dark about CDNL‘s actual current financial standing, as the company still hasn’t bothered filing the 10-K covering the fiscal 2015 that was due almost two months ago.

This does not bode well for CDNL‘s chances of retaining the gains it has just made, because any investment into the company’s stock made at this point in time is nothing less than a blind gamble based on circumstantial evidence.

This is why we advise both dedicated investors and opportunistic traders to be doubly careful when dealing with CDNL stock.