Cardinal Resources Inc. (OTCMKTS:CDNL)’s Recovery Didn’t Last
Cardinal Resources Inc. (OTCMKTS:CDNL) started the week green, but it was clear enough that this state of developments wouldn’t last.
As we have mentioned on occasion in the past, CDNL investors are currently faced with a curious dilemma. The company’s latest announcements were loud and boastful and reassuring, and that was to be expected. After all, it’s not every day that CDNL gets its hands on millions of dollars worth of funding.
Investors were quick to jump on the CDNL hype train when it became clear that the company now had some much needed breathing room on the long track to commercial success.
Unfortunately, due to CDNL‘s failure to actually file its latest financial report, it is currently unclear how far up that road the company actually is. Its OTC Markets profile has already been stamped with a red warning sign, which is an obvious enough hint that investors should be careful when dealing with its stock. But other than that, we have very little information on CDNL‘s actual financial standing.
How have its financials changed? Has it picked up any more toxic debt? How much shares have entered into circulation since the last time it reported? Currently, there is no information on any of that – and, as every investor worth his salt knows, every single unknown detail about a company is a potential pitfall for its investors.
This makes committing to CDNL stock before its quarterly hits the web nothing more than a blind gamble. Sure enough, opportunistic traders may well try to take advantage of the ticker’s volatility and attempt to find an opening and exploit it for a profit in the mean time – but doing so would be extremely risky.
Let the buyer beware.