The Life Clips Inc (OTCMKTS:LCLP) stock was one of the stocks to have come into sharp focus among investors on Tuesday as it soared by as much as 40% on the back of heavy action. However, at the same time it is necessary to remember that there was no news regarding the company yesterday that could have triggered such a massive rally.
In this sort of situation, it could be worthwhile for investors to look into certain key developments from the past. Back in April, the company had announced that its subsidiary company Cognitive Apps Software had signed a letter of intent with the Malaysian firm BelfricsBT with regards to the licensing of its Yuru software.
According to the terms of the deal, the software is going to be used by BelfricsBT in many of its products that are distributed in the Southeast Asian market. It was a major development for Life Clip and marked a milestone for its subsidiary Cognitive Apps.
BelfricsBT is involved in the Blockchain services space and is known for providing a wide range of services in that particular space. While the reason for the latest rally in the Life Clips stock remains unclear it could still be a good idea to keep the stock on your watch lists.
Market Reaction:
On Tuesday, LCLP stock moved up by 40.50% to $0.0060 with more than 111.60 million shares, compared to its average volume of 59.66 million shares. The stock has moved within a range of $0.0039 – 0.0063 after opening the trade at $0.0048. Over the past 52-week, the stock has been trading within a range of $0.0002 – 0.0184.
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