LED lighting and renewable energy solutions provider Cyberlux Corporation (OTCMKTS:CYBL) could be one of the stocks to watch today for investors. The Cyberlux stock made a major move this past Friday and went up by as much as 33% amidst heavy interest from investors.
While the gains made by the stock were attractive, it is also necessary for investors to keep in mind that there was no news about the company on Friday that could have triggered such gain. Actually, the last important development about the company took place on July 9 when Cyberlux provided an update with details of some of its main initiatives
The company announced at the time that it was going to file for an amendment in relation to the reduction of the level of its authorised shares. In the update, Cyberlux informed that it decided to reduce the authorised shares level to 8.75 billion shares from as much as 20 billion and that reflects a reduction of as much as 56.25%. Cyberlux stated that once this reduction takes place the company is going to have enough strategic equity by way of which growth can be fuelled. It now remains to be seen if the stock continues to attract investors this week or not.
Market Reaction:
On Friday, CYBL stock soared 33% at $0.0133 with more than 297.98 million shares, compared to its average volume of 148.14 million shares. The stock has moved within a range of $0.0096 – 0.0140 after opening the trade at $0.0096. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0140.
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