On Friday, Viropro, Inc. (PINK:VPRO) hit a volume of 9 million shares besting its 90-day average more than 3 times. The keepers of long positions in VPRO rejoiced at a 35% increase of the share value, which finished the session at $0.05.
A surge of this scale in the stock's activity can suggest that something significant has happened to provoke it. However, in this case no specific cause can be delineated to shed some light into the intensified trade of VPRO.
The last news from the company was published more than 2 weeks ago and had already depleted its effect on the stock. On 31 March, VPRO announced the completed acquisition of Alpha Biologics Sdn which caused another considerable volume and price increase.
There has been no trade alerts on VPRO since Jan.06 either. According to the promotion database of Hotstocked, VPRO was featured in the watch-lists of four promoters on Jan.06 among which were Stock Rich and Bull Rally. Since then there was neither paid nor unpaid promotional campaign on the company.
There is still no information about the company's financial state. The last report filed with the SEC was registered in May last year and the company has just filed a notification of late filing for its annual report. Surprisingly, this event didn't discourage investors and the stock continued to climb with sellers dominating most of the trades this month.
Apparently, the reason for yesterday's surge of VPRO is yet to be discovered. In the mean time, the market will show if VPRO will continue to be resistant to the negative effects of missing financial reports.