Sometimes certain stocks can go on mysterious runs and in such a situation, it is perhaps important for investors to get some sort of idea about the company before deciding on any kind of course of action. The rally in the Signature Devices Inc (OTCMKTS:SDVI) stock this past Friday was quite mysterious.
The stock rallied strongly and went up by as much as 40% despite there being no news about the company at all. As a matter of fact, the last time any news emerged about the company was back in 2019.
Hence, the rally in the stock seems completely out of sync and may well be a case of wild speculation. There has been no news about any Reddit driven action in the stock either.
The last news about the company was the announcement of its financial results for the second fiscal quarter back in 2019. In that particular quarter, Signature Devices had managed to bring in as much as $27000 in the form of net income and that had reflected a sequential rise of as much as 300%. Since the rally in the stock seems speculative, investors need to be cautious about the stock and keep an eye out for any kind of news.
Market Reaction:
On Friday, SDVI stock soared 40% at $0.0004 with more than 2.50 billion shares, compared to its average volume of 171.34 million shares. The stock had moved within a range of $0.0005 – 0.0009 after opening the trade at $0.0005. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.0020.
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