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Stellar Biotechnologies (V.KLH) responds to mysterious spike in trading

Stockhouse Editorial
0 Comments| August 29, 2014


Stellar Biotechnologies (TSX: V.KLH, Stock Forum) hurried to respond to unusual trading activity when the company announced today that it had received notice from the Investment Industry Regulatory Organization of Canada (IIROC).
 
According to the news release, the company stated that is does not normally comment on abnormal market activity or market speculation, but due to the IIROC’s request, it confirmed it was not aware of any material change in company operations that would justify the trading activity.
 
The real question for most investors is where the bottom of this pullback will end up before they restart their upward trend? Stellar seems to have built a solid portfolio and has good international backing. The stock looks good to trade over $2.00 again by the end of the year; it’s just a matter of when to jump back on the wagon.
 
Stellar was in the news recently when the Port Hueneme, California-based company announced Q3 2014 financial results in the beginning of July.
 
Shares were down 11.96% on the news to $1.84 per share.
 
Currently there are 78.2m outstanding shares with a market cap of $143.8 million.


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