Central African Gold Inc
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Materials : Metals & Mining | Small Cap Blend
Based in Canada
Company profile

Central African Gold Inc, formerly Bankers Cobalt Corp, is a Canada-based natural resource company. The Company focuses on the acquisition, exploration, development, and operation of mineral projects in the Democratic Republic of the Congo (DRC). The Company’s exploration projects seek copper and cobalt in the DRC. It holds rights to approximately nine mineral projects located in the southern DRC CopperBelt. The Company also focuses to acquire interests in additional concessions.

Closing Price
$0.3136
Day's Change
-0.0014 (-0.44%)
Bid
--
Ask
--
B/A Size
--
Day's High
0.3136
Day's Low
0.2836
Volume
(Heavy Day)
Volume:
20,250

10-day average volume:
5,430
20,250

UPDATE: World's top large-cap stock crushes short-sellers and it has nothing to do with making electric cars or iPhones

12:52 pm ET August 5, 2020 (MarketWatch)
Print

By Shawn Langlois, MarketWatch

High-profile U.S. tech companies tend to grab the clickiest headlines when it comes to the financial news splashed across the internet these days, but none of them compare to a Singapore-based gaming, e-commerce and payments company on a performance basis over the past 18 months.

In fact, it's not even close.

New York-listed shares of Sea Ltd (SE) have rallied almost 900 % over that time frame to become the world's best-performing large-cap stock, according to Bloomberg News. As you can see, Apple (AAPL) , Tesla (TSLA) and the S&P lag far behind:

Short-sellers placed a record amount of bets against Sea in June, Bloomberg data show (https://www.bloomberg.com/news/articles/2020-08-05/the-880-stock-rally-that-s-trouncing-tesla-and-everything-else), but they are running for cover amid the growing belief that the loss-making company could emerge as the Tencent (0700.HK) and Alibaba (9988.HK) of the region.

Overall, however, a bearish position of more than $3 billion still remains, which is about 8% of the stock's float, according to financial analytics firm S3 Partners.

"Mark-to-market losses may have forced shorts out of their position," S3's Ihor Dusaniwsky, told Bloomberg News. "But they may still have a negative outlook."

Sea had a rough start to its first year in the public market back in 2017, but its path to the top of the large-cap heap began with Free Fire, a battle royale mobile game that has many as 80 million daily active users across more than 130 markets worldwide. Now, the company's e-commerce and financial services units have also become driving forces for the overall bullish business case.

The company is expected to announce its second-quarter results on Aug. 20.

At last check, Sea shares were up more than 4% to take part in a broad market rally on Wednesday that saw the Dow Jones Industrial Average jump almost 300 points.

-Shawn Langlois; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 05, 2020 12:52 ET (16:52 GMT)

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