Drone Guarder Inc (OTCMKTS:DRNG) was in special limelight on Wednesday as the stock witnessed a huge rise in price along with massive volume. Moreover, the stock almost reached to a new high in the previous trading session.
ASCC stock closed higher by a 270% to $0.0037. What is more interesting is that the stock had witnessed its highest one-day volume at least in the past year. Total volume for the session stood at 2.69 billion shares, compared to its average volume of 126.08 million shares. The stock had started the session with a minor jump and picked up momentum in afternoon trading as the stock went up as much as 270% to a new 52-week high of $0.0037.
So what triggered such a big move? Well, there was no news and as we all know penny stocks often do need news to trigger a big move.
One needs to be careful while trading momentum-driven penny stocks. The company had a market capitalization of 1.54 million (based on the closing price on July 14, 2021).
Drone Guarder, Inc., an early stage security and surveillance company, focuses on commercializing a drone enhanced home security system as a turnkey solution in the United States, Canada, Europe, South Africa, and the Asia-Pacific region.