If you are looking for stocks heading into Friday, then it might be a good move to look into the ZA Group Inc (OTCMKTS:ZAAG) stock, which managed to record gains of as much as 42% yesterday.
The surge in the stock price is possibly linked to an announcement from its business division Econic Crop Solutions Inc earlier on this week. Econic announced that it signed an agreement with Burnin Grass Boutique by way of which it is going to supply high grade wellness products to dispensaries owned by First Nations all over Canada.
It is a significant development for Econic and it is also consistent with the company’s commitment to have as much control over quality as possible with regards to the various aspects of the First Nations cannabis industry. In this regard, it is also necessary to note that Econic has made a name in the industry for growing some of the highly regarded cannabis strains.
Market Reaction:
On Thursday, ZAAG stock soared by 42.12% to $0.0199 with more than 3.03 million shares, compared to its average volume of 2.20 million shares. The stock has moved within a range of $0.0143 – 0.0278 after opening the trade at $0.0143. Over the past 52-week, the stock has been trading within a range of $0.0030 – 0.0800.
Moving Averages
| +/- EMA(20) | 0.0160 (+24.38%) |
| +/- SMA(50) | 0.0148 (+34.46%) |
| +/- SMA(200) | 0.0186 (+6.99%) |
Pivot Points
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 0.7479 | 0.7614 | 0.7729 | 0.7864 | 0.7979 | 0.8114 | 0.8229 |
| Fibonacci | 0.7614 | 0.7710 | 0.7769 | 0.7864 | 0.7960 | 0.8019 | 0.8114 |
| Camarilla | 0.7774 | 0.7797 | 0.7820 | 0.7864 | 0.7866 | 0.7889 | 0.7912 |
| Woodie | 0.7525 | 0.7637 | 0.7775 | 0.7888 | 0.8025 | 0.8138 | 0.8275 |
| DeMark | – | – | 0.7671 | 0.7864 | 0.7922 | – | – |
 Stock Suddenly Jumps 42%: But Why?){kind=link}