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By Nigel Somerville, the Deputy Sheriff of AIM | Tuesday 26 September 2017
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
AIM-listed Frontera Resources has watched its share climb from 0.1p to peak earlier today at 0.78p. No doubt the BBMs have celebrated their collective superiority and intelligence. Except that even the company now tells us that there is no reason for the rise.
Frontera tells us:
Frontera Resources Corporation (AIM: FRR), a European focused independent oil and gas exploration and production company, notes the recent increase in the Company's share price and confirms that it knows of no specific reason for this increase.
It goes on that it announced an update a few days ago and there is nothing to add at this time.
Frontera still has to raise money to keep the lights on, so one would rather doubt that it chose to put out the warning voluntarily. But if the company is unaware of the reason for the shares to be higher and actually says so, you have to wonder.
Actually, you don't: SELL!!
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