A couple of days before the latest announcement, the volume of trades in KYK increased from an average of just over 200,000 per day, to over 1,000,000 per day. Tightly held stock, with 70% owned by the top 20 S/H’s, this volume increase caused a surge in price. Some 3 million shares were purchased leading up to the announcement, then 900,000 sold when the news disappointed.
KYK seems very shy in providing Financial data- even the prospectus only gave a proforma for 2016. That said, all other news is extremely positive, and this is one company that has a solid prospect, developing blockchain technology for use in the Financial Industry where the potential market is huge.
I am expecting a price above $1(soon), but without solid financial data this is only my speculation.
A couple of days before the latest announcement, the volume of...
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