On Tuesday, the Data Storage Corporation (NASDAQ:DTST) stock emerged as one of the notable gainer as it soared by as much as 25%. However, that is not all. The stock has gained another 42% in the premarket trading period and hence, it could be a great idea if investors looked into the Data Storage Corporation stock a bit more closely.
Yesterday the company announced completion of the business combination of its fully owned subsidiary company Data Storage FL LLC with Flagship Solutions LLC. In this regard, it should be noted that Flagship is going to continue as a fully owned subsidiary company of Data Storage Corporation.
Now that the merger has been completed, Mark Wyllie, the Chief Executive Officer of Flagship is going to continue in his position at the company. In addition to that, he is also going to take up a position on the board of Data Storage Corporation.
The Chief Executive Officer of Data Storage Corporation, Chuck Piluso, spoke about the merger as well. He stated that the company is happy to have completed this merger after having done a follow-on public offering and being uplisted to NASDAQ. It remains to be seen if the stock can hold on to its momentum over the coming days.
Market Reaction:
On Tuesday, DTST stock soared 24.40% at $7.29 with more than 6.79 million shares, compared to its average volume of 105k shares. The stock had moved within a range of $5.80 – 8.24 after opening the trade at $5.84. Over the past 52-week, the stock has been trading within a range of $0.12 – 8.24. Moreover, the stock is up another 48% to $10.80 in the pre-market session.
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