One of the stocks that moved massively on Thursday was that of International Consolidated Companies (OTCMKTS:INCC). Yesterday, the company announced that it was all set to complete the acquisition of SoudTech AI no later than July 30, 2021.
It was a major announcement from the company and investors soon piled on to the stock in a big way to eventually send the International Consolidated Companies stock soaring by as much as 308%. In light of the magnitude of the gains made by the company, it is likely that the stock is going to be in focus among many investors today.
The company announced that it will complete the acquisition of SoundTech in a deal worth $150 million that is going to be completed entirely in preferred X stock. The reason behind the optimism about the deal could be rooted to the fact that SoundTech has managed to come up with the Next Generation 360 Immersive Audio Experience.
It is delivered through the company’s own software and is believed to bring a whole new experience when it comes to listening to music. It is now going to be interesting to see if the International Consolidated Companies stock can end the week with a bang and add to its gains further.
Market Reaction:
On Thursday, INCC stock soared 308% at $0.0049 with more than 1.86 billion shares, compared to its average volume of 164.24 million shares. The stock had moved within a range of $0.0010 – 0.0050 after opening the trade at $0.0011. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0088.
 Stock Soars 300%: How Far Can it Go?){kind=link}