What: Shares of Gerova Financial
So what: Gerova is a thinly traded stock averaging less than 10,000 shares of volume for the last three months -- but today is a different story. With one hour left in the trading day, nearly 60,000 shares have already traded hands, as investors try to decide whether an employee with a ban from the SEC is violating that ban.
Now what: The questions surround Jason Galanis and others like him who have a five-year ban on "serving as officers or directors of public companies," according to an article by The Wall Street Journal. Dalrymple Finance started the firestorm last month by asserting that Galanis's involvement in the company was a red flag. Today's trading seems to stem from a resulting surge of short selling. Me? I'll be staying far away from the stock, and looking for investments with a little more certainty going forward.
Interested in more info on Gerova Financial? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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