Tuesday, March 22, 2011

LEXG - Up 410% on the day??


In the last hour of trade LEXG, a stock that, accoridng to its latest SEC filings, has ZERO assets and ZERO revenue had some very peculiar trades. Five trades in total hit the tape after 3pm 4 of them totaled $408,000 and one trade totaled $510.

Those $408,000 of LEXG shares are worth $1,734,000 after the $510 trade at $.51. On paper that investor is up a cool 1.3 million.

The stock closed with a bid of $.55, although I'm not so sure it is strong enough for a 3.4 million share sell.

I find it amazing that someone is willing to throw $400k at a stock with ZERO assets and ZERO revenues. A stock that up to today has traded only 2 times all year. One day for 15k shares, or $1,500 and another 20k day in January for $2,000.

Let's see what tomorrow brings.

1 comment:

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