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Traders of Elray Resources Inc. (ELRA) Profit Taking in Today’s Session

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Shares of Elray Resources Inc. (OTC: ELRA), an established gaming entity, are down sharply in today’s trading. At last check, the penny stock of ELRA was trading 25.74% lower at $0.0075, with volume up from daily average of 1.24 million to 11.89 million. Despite the sharp decline in today’s trading, ELRA shares are up more than 50% in the last three trading sessions.

Elray Resources recently announced that it signed an agreement to acquire all of the outstanding shares of Golden Match. ELRA had signed a letter of intent to acquire Golden Match back in March this year.

Gold Match, which is incorporated in the British Virgin Islands, is an investment holding company. The company’s principal business activity is to hold a profit share agreement with a VIP room gaming promoter, under which it receives 80% of the profit stream from the promoters.

Posted by on Wednesday, May 9th, 2012. Filed under Gaming, Internet. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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