One of the stocks to have made a massive on Wednesday was that of SPO Networks Inc (OTCMKTS:SPOI) and it might be a good idea for investors to take a closer look at the company.
Despite there being no news about the company, the stock soared by as much as 257%. However, in this regard, it should be noted that earlier on in the month the company had appointed a new Chief Financial Officer in the form of Rick Hall.
Hall is a highly experienced executive and before joining SPO Networks, he had worked as the Chief Financial Officer and the Secretary Treasurer at the Arkansas and Missouri Railroad for as many as 13 years. The company is involved in acquiring companies which are involved in a wide range of industries starting from scrap metal recycling to solid waste. It is now going to be interesting to see if the SPO Networks stock can continued to add to its gains today.
Market Reaction:
On Wednesday, SPOI stock soared by 257% to $0.0050 with more than 121.46 million shares, compared to its average volume of 4.69 million shares. The stock has moved within a range of $0.0028 – 0.0099 after opening the trade at $0.0028.
Moving Averages
| +/- EMA(20) | 0.0021 (+138.10%) |
| +/- SMA(50) | 0.0029 (+72.41%) |
| +/- SMA(200) | 0.0021 (+138.10%) |
| Pivot Points | |||||||
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | -0.0052 | -0.0012 | 0.0019 | 0.0059 | 0.0090 | 0.0130 | 0.0161 |
| Fibonacci | -0.0012 | 0.0015 | 0.0032 | 0.0059 | 0.0086 | 0.0103 | 0.0130 |
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