Mineral exploration and development firm Tamino Minerals Inc (OTCMKTS:TINO) has had a somewhat rough time in the markets in recent times and that becomes apparent when one looks into its stock performance.
Yesterday, the selloff in the Tamino stock continued and it tanked by 11%. The selloff in the stock yesterday took its cumulative losses for the week to as much as 19%. While it is true that there was no news about the company yesterday, it may be a good idea to take a look at a development with regards to Tamino last week on October 14.
On that day, the Chief Executive Officer and President of Tamino, Pedro Villagran-Garcia announced that in order to stay compliant it disclosed that it issued 497,085,278 shares. Out of those shares, 347,274,117 shares are restricted but 149,811,161 shares are available to be traded freely.
The company also announced that it did not issue any new shares into the market and the numbers of shares that are available for free trading have remained the same. It seems that investors have not been particularly thrilled by this update and it is going to be interesting to see if the stock can manage to make a recover in the coming days.
