Today shares of BrightRock Gold (OTCMKTS: BRGC) are up 45% this morning on over 267,000 shares of trading volume. There is no news out that explains the move, but there may be a pattern to it. The stock has been basically dead for years now barely moving and barely doing any trading volume at all, but all that began to change two weeks ago. Take a look at the chart.
The stock came alive last week and has entered a trading range with resistance around 10 cents and support at 6 cents. It could jump again if it closes above 10 cents. In fact it probably will as it has a very small market cap. However, there is no real public information on this stock so it is a real mystery to it.
The last press release was from seven years ago when the company announced that it was changing its name from Ghana Gold Corporation to BrightRock Gold Corp. It has not made an SEC filing since then and does not have a website. There is no real way to know what is going on to explain the stock move. I have not even been able to find rumors about it on message boards today.
The price action is making people watch it and some even buy it. The stock is showing up in scans. Penny stock traders on twitter are really following it now.
$BRGC :— ☀️SUNNYLAND☀️ (@SUNNYLAND24) January 28, 2020
its Name and Ticker symbol then INSTANTLY go quiet….makes me think that like most of these dead miners coming to life recently they just went quiet waiting for the right time to come back….My eyes are on it…(high risk lotto as of now) pic.twitter.com/Vu1KIWO6l3
Took a starter on $BRGC (.0078)— Toastslave (@ToastslaveBC) January 28, 2020
What should we make of this? The company is a shell company and that is what the stock is. It has no business. Perhaps someone is looking to do a reverse merger with this shell. I don’t know. I have no information on it and am not buying it or trading it only watching. It is too speculative to me I’m not going to trade it.
I love mining stocks though. They are starting to come alive and my favorite small cap silver mining stock is a fun one to check on every single day. Even some cannabis stocks are coming back into play after their big drops last year. The stock market is set up to just chop around now and not soar at the moment setting up a good time to pick your spots.