When we first wrote about the International Fight League (IFLI) late last week, IFLI was just breaking through the $0.01 threshold on rumours the Ultimate Fighting Championship (UFC) might buy the struggling league. Well it now appears that speculators got wind of this latest penny-stock opportunity and rushed in.
Yesterday, the stock saw incredible volume of 17.43 million shares (on 79.06 million of total shares outstanding) and shot up past $0.04 before settling for a 50%+ gain at $0.03. We have yet to see any new reports or hear any new rumours. The latest rumour was still that the UFC would likely buy the IFL for $1,000,000 or less. IFLI’s current market cap is now over $2 million.
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