Earlier on this week, Sports Quest Inc (OTCMKTS:SPQS) sent out a press release in which it provided a generic update to its shareholders and that was possibly the reason why the stock rallied strongly yesterday.
The Sports Quest stock was in considerable focus yesterday among investors and managed to clock gains of as much as 24%. In the update released on July 13, the company announced that it successfully resolved the tax assessment that it had been embroiled with the State of Delaware. As a result of the resolution of this issue, the company has now managed to become current with respect to the state.
However, that is not all. Sports Quest also announced that it sent in an application to the OTC Markets before the deadline of 30 June, 2021 for permission to report its activities on a periodic basis.
At this point in time, Sports Quest is waiting for credentials so that it can get access to the OTCIQ portal. If the company manages to get those credentials from the OTCIQ then it will be able to submit its financials, OTC related information and other details as and when it wants. Sports Quest will also be able to update those documents when required.
Market Reaction:
On Wednesday, SPQS stock jumped 24% at $0.0057 with more than 101.84 million shares, compared to its average volume of 61.98 million shares. The stock had moved within a range of $0.0043 – 0.0063 after opening the trade at $0.0043. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.0067.
 Stock Extends Rally: What Next?){kind=link}