BioPower Operations Corporation (BOPO) Stock More Than Doubled: What’s The Buzz?

Investors who might be currently looking into some of the biggest gainers in the market yesterday could do well to take a look at the BioPower Operations Corporation (OTCMKTS:BOPO). Yesterday, the stock was in major focus among investors and managed to clock gains of as much as 100% amidst heavy interest.

The stock came into focus after the company announced on Tuesday that it signed an asset purchase agreement. As per the provisions of the agreement, BioPower has agreed to acquire some assets from HyFi Blockchain Technology. The acquisition had actually been closed on June 29, 2021 and it was yesterday that the announcement was made.

It might be a good move for investors to take a closer look at the transaction. BioPower was paid $300,000 as part of the transaction and the money is going to be deployed towards helping the company get current status under the rules of the United States Securities and Exchange Commission.

Additionally, that sum is also going to be used towards the operating expenses related to the operations of a public company. However, that is not all. As many as 400 million HyFi tokens were also transferred to BioPower by the sellers. The tokens are going to be used for making payments on the HyFi platform.

Market Reaction:

On Tuesday, BOPO stock went up 105% at $0.1235 with more than 1.22 million shares, compared to its average volume of 12k shares. The stock had moved within a range of $0.0690 – 0.3200 after opening the trade at $0.0690. Over the past 52-week, the stock has been trading within a range of $0.0102 – 0.3200.

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