The social networking systems’ developer jumps more than 42% on big volume.
SDVI opened trade at $0.0008. Volume is a very heavy 975.16 million shares over 8 times its 30-day average trading volume of 119.16 million. Signature Devices, Inc. (OTCMKTS:SDVI) has traded between 0.0007 and 0.0013. Potential pivot points to keep an eye on are 0.00106 0.00113 0.00126 above and 0.00066 0.00073 0.00086 below.
What is driving the gains?
SDVI hasn’t had news since 2019, which is common with stocks trading in the triple-digit price range.
If we take a look at OTCMarkets we see that SDVI is listed as dark or defunct and has a stop sign warning investors that the company may not be making material information publicly available.
This paints a dim image of Signature Devices. If we look at the financial page, the last financial statements dates back to 2018.
In the disclosures tab, we will see that SDVI last filed quarterly results for the period ended June 2019.
SDVI broke out of its sideways range Wednesday. The stock has been getting attention and average daily volumes are increasing significantly. This stock is still cheap compared to many of the other dark or defunct companies traders have been bidding up lately so there may still be some upside.