The Borneo Resource Investments Ltd (OTCMKTS:BRNE) was another company which was in sharp focus among investors despite there being no news about it at all. However, investors piled on to the stock in a big way on Monday and sent the Borneo Resource stock soaring by as much 50% as a consequence.
The absence of any news about the company might make investors feel that the rally in the stock might have been speculative in nature. In this situation, it is perhaps better for investors to take a look at the company’s business and then make up their minds one way or another.
The company, which is based out of Indonesia, is involved in the process of aggregating proven natural resource and precious metals concession assets. While that may be the aims of the company, investors need to note that at this point in time Borneo Resource is a dormant company and has no ongoing operations of any kind.
In such a situation, it is very difficult to figure out the reasons behind such a strong rally in the stock. At this point it might be a good move from investors to perhaps keep an eye on the news wires with regards to Borneo Resource.