Carpathian Resources (ASX: CPN) is another small cap. stock with a resurgent share price in recent weeks.
Carpathian shares soared to $0.024 in intra-day trade today, close to five times the $0.005 closing price just two days earlier on Wednesday 14 September, with the company receiving an ASX price and volume speeding ticket.
The company said there was no material information that has not been disclosed to the market which may explain the investor interest.
The company did however state in a response back to the ASX:
"It is the company’s opinion that, in the last month, there has been an extraordinary number of shares sold into the market which, obviously, depressed the stock price significantly.
"Further, the company has no indication or knowledge that the sell-off was related to any adverse information relative to the company’s performance or current activities.
"In fact, on 1 August 2011, the company filed its quarterly cashflow and quarterly activities reports, which indicated an increase in the company’s cash position, the first report of its kind in the last several years."
Mitchell Hammer, managing director, took the opportunity to boost his shareholding, recently purchasing around 6.5 million shares on-market.