WRLC is one of those names that sits at the outer edge of institutional radar — an OTC-traded Appalachian land and mineral rights company with a market cap of roughly $63 million, no analyst coverage, no earnings calendar, and almost no short interest worth discussing.
The price action this week captures the stock's character well. WRLC closed at $505.00 on April 28, down about 1% over the week but up 8% over the trailing month. The trading range over the past three months runs between $430 and $525, and the stock rarely moves with any urgency. Daily volume is thin enough that a single buyer or seller can shift the price materially on any given session.
Short positioning is effectively nonexistent. ORTEX estimates just three shares short as of April 28, a level that has been flat for weeks after a brief, unexplained spike to 104 shares on April 3 — almost certainly a reporting artefact rather than a meaningful positioning shift. With short interest this small relative to the float, the metric carries no information here.
The borrow market is marginally interesting by contrast. Cost to borrow was quoted at 8.7% in early April, which is elevated for a name with so little short demand, and the most recent reading from ORTEX puts it at 12.7%. That premium likely reflects illiquidity in the lending pool rather than any genuine crowding of the short. When only a handful of shares are borrowed, even minor scarcity in the available pool can push rates higher without implying any directional thesis.
Dividend history is the most substantive data point available on this name. Under its prior identity as Coal Creek Company, the business paid modest cash dividends from 2014 through 2022, the last being a $5.00-per-share payment in February 2022. Nothing has been distributed since, a gap of more than four years. For a company trading at $505 with no earnings release dates disclosed, that dividend silence is the cleanest signal of where management attention currently sits.
No analyst coverage, no upcoming earnings event, and no insider trade filings over the past year mean there is little conventional catalyst framework to apply. The next development worth watching is any announcement regarding royalty income from underlying mineral rights, a dividend resumption, or a change in the OTC trading volume pattern — any of which would represent a genuine shift in the WRLC narrative.
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