The rally in the Fernhill Corp (OTCMKTS:FERN) stock continues on Thursday as investors continued to pile on to it in a big way. The stock soared by 25% yesterday amidst heavy interests and that took its gains for the past week to as much as 70%.
In light of such gains made by the stock, it might be a good time for investors to start taking a closer look at the company. Earlier on this week, the company announced that it completed the due diligence in relation to an acquisition that it is targeting in the blockchain and cryptocurrency company. The company revealed that it signed the letter of intent with regards to the acquisition.
The company that has been targeted by Fernhill Corp is known for operating an algorithm based crypto mining operating system platform. Mare Lasky, the Chief Executive Officer of Fernhill, spoke about the matter as well. He said that that company is highly excited about having signed the letter of intent for the acquisition and went on to state that that the transaction is expected to be completed shortly. In light of the current gains made by the stock, it is now going to be interesting to note if the Fernhill stock can end this week strongly.
Market Reaction:
On Thursday, FERN stock surged 25% at $0.0119 with more than 146.81 million shares, compared to its average volume of 65.26 million shares. The stock had moved within a range of $0.0093 – 0.0128after opening the trade at $0.0109. Over the past 52-week, the stock has been trading within a range of $0.0002 – 0.0175.
 Stock Soars 25%: Here is Why){kind=link}