A Review of market price of Pershing Gold Corporation (OTCBB: PGLC)
On 26 March 2012, Pershing Gold Corporation (OTCBB: PGLC) started its journey with the bourse Nasdaq at a opening price of $0.51. The company was closed at a price of $0.54 at the same day. Investors welcomed PGLC, with the expectation to earn a certain amount of capital gain and subsequent dividend earnings from their holdings. After near about eleven months, the stock is being traded almost at the same price company (On February 15, 2013 the company started to trade with an opening price of $0.50, which closed at 0.484). The ever highest price of the stock was $0.92, the lowest price was $0.27 and the average price over the period was $0.40. Pershing Gold Corporation is among the companies which are yet to give any return to its shareholders in the form of dividend. Albeit its initial stage’s high fluctuation of market price has gave an opportunity to generate some capital gains, the marginal holders are waiting for better days. From May to December 2012, PGLC was traded below $0.35, which was really a battle for survival though the last two months (January and February 2013), price of PGLC is more stable. Why the price now more stable? Investors are observing whether it is going up or down now.
Perhaps, this is because of company’s public disclosure informing its likely positive business result that has assured its stock holders something encouraging. The company’s recent press release on January 24, 2012 has assured, “On Pershing Gold Corporation that it has completed an in-house calculation of mineralized material in the Company's model for the Relief Canyon Mine in Pershing County, Nevada which estimates 32,541,000 tons of gold mineralized material at an average grade of 0.017 ounces per ton gold". I think this is a signal of better days for PGLC.