Shares of Megastar Development Corp (CVE:MDV) dropped 9.1% during mid-day trading on Wednesday . The stock traded as low as C$0.10 and last traded at C$0.10, approximately 12,000 shares traded hands during trading. A decline of 84% from the average daily volume of 73,978 shares. The stock had previously closed at C$0.11.
The firm has a 50 day simple moving average of C$0.09 and a 200-day simple moving average of C$0.11. The company has a market cap of $3.75 million and a price-to-earnings ratio of -7.14.
Megastar Development (CVE:MDV) last posted its earnings results on Wednesday, October 30th. The company reported C($0.01) earnings per share (EPS) for the quarter.
Megastar Development Corp., an exploration stage company, acquires, explores for, and develops mineral properties in Canada. It owns a 100% interest in the Ralleau copper-zinc property that comprises 59 contiguous mineral claims covering an area of approximately 3,324 hectares located in Quevillon, Quebec.
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