Micro cap stocks may be known for their inherent volatility but at the same time those stocks can also generate handsome gains. One of the stocks in that category that could be watched closely at this point in time is that of Energy 1 Corp (OTCMKTS:EGOC).
The Energy 1 Corp emerged as a major gainer on Wednesday and ended up with gains of as much as 25%. The stock has been getting considerable attention from penny stock traders in recent times. In this regard, it should also be noted that the company is another SPAC or special purpose acquisition company that is backed by David Lazar.
In recent times, many of the stock that could be involved in reverse mergers have been making strong upward moves in the market and the rally in the Energy 1 Corp stock is another example of that trend. For many years, the stock had been dormant but there is now excitement about the stock after the company submitted an 8K that noted that David Lazar and Custodian Ventures LLC are the custodians of Energy 1 Corp. In light of these developments, the stock has also seen heavy action and it remains to be seen if it continues to rally today or not.
Market Reaction:
On Wednesday, EGOC stock jumped 25% at $0.0100 with more than 61.17 million shares, compared to its average volume of 9.58 million shares. The stock had moved within a range of $0.0082 – 0.0123 after opening the trade at $0.0082. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.0180.
 Stock Gains Momentum: How to Trade Now?){kind=link}