RBPlat Reverses Gains, Loses Two Million Shares

Oct. 25, 2012 12:18PM PST

Bloomberg reported Royal Bafokeng Platinum Ltd. (FRA:7BF) reversed its gains made yesterday with a loss today with the sale of more than two million shares.

As quoted in the market news:

Royal Bafokeng fell 13 percent, the steepest drop since it listed in 2010, by the close in Johannesburg. The stock advanced 18 percent yesterday.
The stock’s 30-day historical volatility, a measure of stock swings, jumped to 67.16 from 53.14 the previous day. The FTSE/JSE Africa All Share Index’s 30-day volatilitymeasure was at 12.45 versus 12.47. A higher reading means the price of an asset can move dramatically in a short period. About 2.3 million RBPlat shares traded, about 30 times the average daily volume in the past three months.

Click here to read the full Bloomberg report.