I'm wondering about MXR's volume also, very strange when you think about it. Canada Stockwatch says MXR has 10,000,000 outstanding shares, last week roughly 8,000,000 shares traded, or 80 percent. One would not expect such a large turn over in a stock, there must have been a lot of people who bought and flipped to make a fast profit. I would think the people buying would hold the stock and wait for larger profits, that does not seem to be the case with MXR.
Although the stock closed done on Friday, when you look at the individual trade records (for friday) closely, 75% of the stock that did trade hands was bought in the 57-59 cent range, 15% in the 54-56 range, and the remainder between 53 and 47 cents. In reality very little stock was sold at 47 cents and that was done at the end of day.
Considering how little stock that did trade for less than 50 cents, I would not be surprised if somebody dumped some cheap stock to scare investors away. I don't have the latest short positions for this stock, but I believe their could very well be a lot people shorting MXR. (When I get the number I will post them !)
In terms of share value, in my opinion, comparing MXR to other companies, MXR has 10 mill. oustanding shares, 20% interest in copper/gold/silver play that could be huge, and they are in the process of acquiring a copper/gold property in B.C.. Also the fact that the CEO has increased his ownership to 10% of oustanding shares, the stock is worth between 50-55 cents per share in my opinion.
MXR is not associated with NPA in any way from what I know. Remember the stock ran up and more than double last week, a small pull back is only natural. Lots of big buyers also, 85,000 @ 59 cents, 25,000 @ 59 cents, etc. Obviously there are a lot of people who believe in the company.
It may take a while, but the stock will make us money. In my opinion the stock will close in the 60 cents range next Friday, if my technical analysis munbo jumbo is right.
Happy Investing !!!!!
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