13 Jun SAGD – unusual EOD trading activity
South American Gold (SAGD) suddenly saw 4,468,613 in volume near the end of the day today out of no where after months of inactivity.
SAGD sat at $.20/share for months before 20,000 in volume on June 8th brought the trading price down to $.10/share.
At the end of the day today another 4,468,613 shares suddenly traded hands seemingly out of no where bringing the share price down further. SAGD closed today at $.0389/share.
So what is going on with this unusual trading activity?
Debt Holders bringing down the stock price before debt conversion?
Some kind of positioning being done with the stock price before a paid promotion?
Maybe some shares became unrestricted and the shareholder(s) couldn't wait to unload their position(s)?
I'm not seeing much in the filings at this time to explain the unusual trading activity, but activity like this can't be completely ignored. SAGD will be on alert for the next few days to see what happens next.