If you are looking into small cap stocks at this point then it might be difficult to look past the iWallet Corporation (OTCMKTS:IWAL) stock. The stock has seen incredibly heavy action over the course of the recent days and although it did decline by 18% on Monday, it had soared by as much as 400% in the preceding week.
In light of the gains made by the stock in recent days, it might be a good move to take a closer look at iWallet. The massive rally in the stock was triggered after it emerged last week that the shell company was going to be taken over by Moody/Denunzio.
More importantly, investors seem to be excited by the track record Moody/Denunzio. They have forged a path in which they have taken over many shell companies and then turned them into legitimate businesses. Hence, it is not a big surprise that the iWallet stock has soared to such a degree after the news broke.
Despite the fall yesterday, it should be noted that investors have accumulated the stock heavily and it is going to be interesting to watch the stock’s trajectory for the rest of the week. Investors could do well to keep iWallet in their watch lists.
Market Reaction:
On Monday, SBFM stock decreased by 17.50% to $0.0825 with more than 5.72 million shares, compared to its average volume of 631K shares. The stock has moved within a range of $0.0670 – 0.1000 after opening the trade at $0.0850. Over the past 52-week, the stock has been trading within a range of $0.0042 – 0.3140.
 Stock Corrects On Profit Taking; A Good Opportunity?){kind=link}