One of the stocks to have emerged as a major loser this past Friday was that of the Legends Business Group Inc (OTCMKTS:LGBS). On the last trading day of the week, the stock tanked by as much as 24% amidst a heavy selloff and that came a day after the company provided a corporate update.
In its update, Legends Business Group noted that ever since he was appointed as the President and Chief Executive Officer of the company back in January, Paul Bajakin has made important decisions in order to turn the business around.
The company announced that all the necessary fees have been paid to the OTC Markets Group. In addition to that, Legends Business Group has also been working with the OTC Markets Group with regards to its target of becoming current in relation to its financial reporting. That is a major objective of the company at this point in time.
That will allow Legends Business Group to provide shareholders, market analysts and potential investors with the most accurate information with regards to the finances of the company. In addition to that, the company also noted that it is working on making a new corporate website available in order to provide information about the company.
Market Reaction:
On Friday, LGBS stock slumped 24% at $0.0070 with more than 141.61 million shares, compared to its average volume of 24.98 million shares. The stock had moved within a range of $ 0.0064 – 0.0086 after opening the trade at $0.0085. Over the past 52-week, the stock has been trading within a range of $0.0002 – 0.0097.
 Stock Falls On High Volume: What Next?){kind=link}