News of any kind of dividend issuance from a company can result in considerable attention for the stock and that is what has happened with the ProTek Capital Inc (OTCMKTS:PRPM) stock over the course of the past week.
Last week, the company announced that its management decided to submit a request for corporate action with regards to dividends with FINRA. In addition to that, it was also announced that an S1 registration was also going to be done with the United States Securities and Exchange Commission. The announcement naturally led to a lot of interest in the stock and over the course of the past week, the ProTek stock has rallied by as much as 100%.
The announcement was made back on July 7 and since then the ProTek stock has emerged as a favourite among many investors. At the time, it was also announced that the company was ready to unveil some of the most ambitious business developments. In addition to that, the record date for the dividend payout has been set for July 30, 2021. Not too long ago, the company also completed the acquisition of Black Dragon Resource Companies Inc. The acquisition was made with the view of running an advanced incubator for a range of digital assets.
Market Reaction:
On Tuesday, PRPM stock surged 26% at $0.0013 with more than 838.30 million shares, compared to its average volume of 111.28 million shares. The stock had moved within a range of $0.0009 – 0.0014 after opening the trade at $0.0010. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0080.
 Stock Doubled in a Week: Here is Why){kind=link}