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Paladin Update
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Paladin Update
Exactly three weeks ago we shared our thoughts on
a street wise gold report update from Seeking Alpha. The report foucessed on a recommendation of Paladin Energy (PALAF.PK). On April 3rd shares closed at $2.68. Today shares finished up trading at $3.14, which is a 17% increase in share value over the past three weeks.
What has brought on this increase? Its tough to pinpoint any one thing but I do see a sharp increase in volume. Average trading volume over this stretch has been right near 200,000 shares per day. The average volume from the week before this stretch (March 28th – April 3rd) was only 58,500. I would image some larger institutional investors have begun to reestablish positions in Paladin. We’ll keep our eyes on PALAF.PK share price and daily volume over the coming weeks.