Alpine 4 Holdings Inc (OTCMKTS:ALPP) was back on the news yesterday after the company made a major announcement and that also led to a rally in its stock, which jumped by as much as 5%.
The company came into sharp focus among investors after it announced that that two of its subsidiary companies, Vayu Inc and Impossible Aerospace Corporation, are going to be merged to form Vayu Aerospace Corporation Inc. The merged company is going to be based out of the existing facility of Vayu Inc, which is located in Ann Arbor, Michigan. Alpine 4 Holdings revealed that the aforementioned merger could be completed as early as October 1 this year.
It should be noted that Impossible Aerospace Corporation had been acquired by Alpine 4 Holdings back in the fourth quarter of last year. However, it should be noted that it was not the only announcement made by the company yesterday.
Alpine 4 also revealed that another of its subsidiary companies Quality Circuit Assembly Inc will continue to make and assemble the necessary components for Alpine 4’s US-1 airframe. It was another key announcement and might have had an effect on the Alpine 4 stock. Investors could consider keeping an eye on the stock for the rest of the week.
Market Reaction:
On Wednesday, ALPP stock gained 4.78% to $3.29 with more than 1.44 million shares, compared to its average volume of 891K shares. The stock has moved within a range of $2.9850 – 3.3650 after opening the trade at $3. Over the past 52-week, the stock has been trading within a range of $0.0340 – 9.4900.
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