Valmie Resources Inc (OTCMKTS:VMRI) Keeps Going Up
Valmie Resources Inc (OTCMKTS:VMRI) has been doing fairly well in the past several months gaining altitude, and managing to keep most of it. The daily volumes have recently increased and that has put a lot of pressure on the ticker.
It recently suffered from a horrible crash, that obliterated a large portion of the company’s value, but VMRI refused to dip below the $1 per share mark. Meanwhile, its market cap of more than $100 million in is total contrast of its latest financial achievements and the skull and crossbones mark that it has in the OTC marketplace.
- cash: $24 thousand
- total assets: $58 thousand
- total liabilities: $268 thousand
- revenues: ZERO
- net loss: $83 thousand
Those numbers are pretty terrible and are certainly unable to back up a market cap such as VMRI’s. Still, that hasn’t stopped the ticker from returning to its upward direction, regaining some if the value that it lost in the end of last month.
The latest session saw the ticker gain 8.16% in value and close at $1.59, while a total of 629 thousand traded shares generated $957 thousand in daily dollar volume. VMRI has gathered even more momentum in today’s session and it doesn’t look like the company stock wants to stabilize.
The massive market cap and the poor fundamentals, however, might bring to a bitter end, so be sure to do your due diligence and weigh out the risks before putting any money on the line.