SKD stockford limited

Please explain

  1. 1,689 Posts.
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    About 10% of the company's shares were transacted this morning at $0.14, the fundamentals aren't so good and there's the escrow situation to deal with, yet the market continues to bid the stock up and has now reached $0.205.

    The following announcement was made yesterday. It's unusual to be forewarned about something like this for such a stock.

    "Stockford Limited (SKD) announces that it has today been advised by St George Bank Limited that it intends to sell its shareholding in Stockford by way of an off-market transfer on 20 June 2002. The sale is to be made to a fund manager specialising in small cap securities."

    Reasons for the market enthusiasm are more than welcome.

    Disclaimer: I don't own any SKD shares.
 
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