After detailing yesterday our initial thoughts on Medinah Minerals Inc. (MDMN), the Company took our warning serious and updated their website. MDMN stock has already traded half a million dollars in just 15 minutes and is setting up for, what appears to be a huge run. Yet the “yield” sign warnings are not deterring traders from taking a chance on the supposed $180 million sale the Company is touting, even though the PPS is currently near the 12 month high.
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MDMN Stock Chart – One Year
Market Value: $103,212,489 a/o Jul 19, 2012
Shares Outstanding: 711,810,270 a/o Mar 2, 2012
Float: 637,500,000 a/o Dec 31, 2011
Authorized Shares: 3,000,000,000 a/o Feb 17, 2012
5 Day Percent Change: 51.04%
5 Day Moving Average: 0.0984
5 Day Average Volume: 5,287,514
Bottom Line: This penny stock is in full blown dump mode with a line of trucks full of fill from the dirt merchants. Stay as far away from MDMN stock if you value your money. You are much better off placing your money on “20” at the Roulette table than you are at taking a chance in this massive warning signaled pinksheet.
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