There are many stocks which have recorded considerable gains at different times this week despite there being no news about the underlying companies. One such company is Demand Brands Inc (OTCMKTS:DMAN), which saw its stock soar by as much as 26% on Wednesday.
While it is true that there has been no news about the company, investors can still consider taking a look at some of the events from the past in order to get a better idea about Demand Brands. Earlier on this month the company announced that its fully owned subsidiary company Pacific Technologies Group Inc entered an important definitive agreement.
As per the terms of the said agreement, Demand Brands is going to acquire all the issued as well as outstanding voting shares in the Show Me State LLC Cannabis Farm. In addition to that, Demand Brands is also going to get the super voting shares and the multiple voting shares.
It is an important transaction for the company and one that could ultimately have far reaching ramifications. Show Me State LLC Cannabis Farm is a farm that stretched across an area of 33 acres and produces exotic indoor flower to the tune of 120 lbs every 8 weeks.
Market Reaction:
On Wednesday, DMAN stock moved up by 25% to $0.0275 with more than 19.67 million shares, compared to its average volume of 7.94 million shares. The stock has moved within a range of $0.0200 – 0.0277 after opening the trade at $0.0206. Over the past 52-week, the stock has been trading within a range of $0.0021 – 0.0290.
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