LONE STAR GOLD INC (LSTG) Hits 52-week High
LONE STAR GOLD INC (OTC:LSTG) was one of the few penny stocks on Monday, which had shown very unusual trading with sudden volume spike up.
Shares of LONE STAR GOLD INC soared 20% to $0.96, which was also its new 52-week high. More than 538K shares traded hands, compared to its 1-month average volume of 18K shares.
Shares of LSTG have been very illiquid stock at least since Jul 26, 2011, where no trading was done till 12 Aug.
With the sudden jump in volume and prices at 52-week high, LSTG stock looks bullish. However, one need to be very cautious while trading LSTG as the stock has history of heavy promotional activities, which could lead to temporary buying.
LSTG Stock Climbing
Last week, LSTG announced that it has reached a deal to buy 70% stake in the La Candelaria property in partnership with HBG Sa. de C.v. However, despite this solid news, there were no shares traded on the same day, very surpassing.
As per the historical data, there is strong expectations about the potential of billions worth of gold and silver.
Earlier LSTG was known as Keyser Resources, Inc. and renamed in June to LONE STAR GOLD INC after announcing 20:1 stock split.
Now if you are buying shares LSTG, you need to do your research thoroughly, as we couldn’t find any material which led LSTG stock to its 52-week high. It looks like investors are betting on LSTG stock either on promotional activities or strong expectations from the company’s recent joint venture.
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