The Signature Devices (OTCMKTS:SDVI) stock had emerged as a major gainer last Friday when it soared by as much as 40% on heavy interest and the trend continued on Monday.
Yesterday, the stock continued to attract new investors and recorded gains of as much as 15%. While the continued rally in the stock might attract new investors, it should be noted that there has been news about Signature Devices that might have triggered such a rally. The rally in the stock remains a bit of a mystery and the whole thing might have been a case of speculation on the part of the investors.
The last time there was any kind of news about the company was back in 2019 when Signature Devices announced its financial results for the fiscal second quarter. As a matter of fact, the company performed well in that quarter and managed to generate net income of as much as $27,000.
That worked out to a sequential rise of as much as 300%. While the performance around two years ago might have been impressive it is highly unlikely that it is the reason behind the rally in the stock. The rally in the stock might be entirely speculative.
Market Reaction:
On Monday, SDVI stock jumped 14% at $0.0008 with more than 524.45 million shares, compared to its average volume of 177.99 million shares. The stock has moved within a range of $0.0006 – 0.0009 after opening the trade at $0.0007. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.0020.
 Stock Gains Momentum: What Next?){kind=link}