Valmie Resource Inc (OTCMKTS:VMRI) Gains More Altitude
Valmie Resources Inc (OTCMKTS:VMRI) has been doing fairly well since the beginning of the year. Back in the end of the first quarter of 2016 we saw the ticker trading at 20 cents per share, but VMRI has managed to gain quite a lot of altitude since then.
The company’s market value has become quite big, even by OTC marketplace standards. This is especially true when you take a look at the financial situation of VMRI. Here is just a quick look at some of the numbers of prime interest contained in the company’s report for the quarter ended February 29, 2016.
- cash: $24 thousand
- total assets: $58 thousand
- total liabilities: $268 thousand
- revenues: ZERO
- net loss: $83 thousand
These numbers are certainly terrible and fail to suggest that the market valuation of $73 million that the company stock has is adequate. Still, that doesn’t seem to bother the people trading VMRI and the ticker has begun to regain the value that it lost during last week.
After a positive 14.29% close in Friday we saw VMRI gain another 10.58% in yesterday’s session, climbing to $1.15. A total of 612 thousand shares changed their owners during the session and generated $691 thousand in daily dollar volume.
VMRI is still doing okay in today’s trading, but it seems to be losing momentum. In any case, be sure to do your due diligence and weigh out the risks before putting any money on the line.
