Yesterday, El Maniel International Inc. (PINK:EMLL) lost 27,27% of its value and finished at $0.0008 per share. Trading volume reached almost 200 million shares.
It must be pointed out however, that EMLL stock was worth $0.0003 per share at the beginning of the month, so the value of the stock has actually increased by 43% over the last weeks.
Trading volume scored its highest value on Oct. 9 when more than 400 million shares of EMLL changed its ownership. This surge was caused by a fresh news, which was spread the same day by the company.
On this day, EMLL announced that it had finished the geological mapping of 100 additional acres of its Ghana gold property. Nothing more significant was shared by the company's CEO, Jamie Khoo, who only said that the management was “very exited about the progress.”
Another reason for the rise of EMLL stock value could have been the stock alerts which were spread last week. A couple of promoters included EMLL in their letters attracting the attention of investors. According to the statements, none of the promoters has received compensation for including EMLL in their newsletters.
El Maniel International, Inc. is a company with holdings in tobacco, oil, international banking, mining and the fine arts and collectibles industry. Currently EMLL market cap is $2.31 million against which the company can offer no assets whatsoever, according to its 10-Q/A report.