Global Diamond Exchange Inc: (GBDX) .005 and traded on the pink sheets ~ This company is in the diamond import and retail business. The volume and price spike tells us some kind of positive fundamental news may be coming. We took a position in the stock in the low to mid .004s. Rumors are flying this weekend.
Update 03/20/07
GBDX has been a good trader since the stock was put on the DSR pick list at .005 on 02/26/07 reaching a high of .014 from our entry. We are long again in the low to mid .004s on our own research and the continued rumors of positive developments that may rocket the stock far past rccent new highs any day.
Through a contact in New York City, we found out yesterday that an eight hundred square foot rental space in the building at 2 West 46th Street on the 7th floor had been renovated for occupancy by Diamond Global Exchange. The sign is on the door, Suite 704. The phone lines were installed this past Monday. The space has been paid in advance for three months. The lease on the suite is a five year lease. All but two spaces in the building are in the wholesale/retail diamond and jewelry business. We were told that the old occupants were delayed with vacating the suite which had held up GBDX from occupying the space sooner. We were told the suite was specially renovated and includes a kitchen. The company has ongoing operations in a building two blocks away from 2 West 46th Street and will move this week into the new suite. Our understanding is that the main person from GBDX travels a great deal and is very well respected in the worldwide diamond and jewelry business.
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