Indo Global Exchange (OTCMKTS:IGEX) Stock Gains Momentum: But Why?

The Indo Global Exchange (OTCMKTS:IGEX) stock has been in considerable focus among investors at different points this month and the trend seemed to continue on Wednesday. While the gains made by the stock may be eye catching, it is also true that there has been no specific news about Indo Global Exchange in recent months. Hence, the rally in the stock may well be speculative in nature.

However, it could be a good move on the part of investors to look into certain past developments in order to make up their minds about the stock. The last important news with regards to Indo Global Exchange had emerged in January last year when the company announced that it completed the acquisition of MyoCare Sports.

MyoCare Sports is a well known company in the performance nutrition segment. The acquisition was a major move from Indo Global Exchange considering the fact that MyoCare commands a presence in several markets. In addition to that United States, the company also has a foot print in the Australian and Central American markets.

However, it is unlikely that the stock rallied yesterday due to the acquisition made by Indo Global Exchange in January 2020. Hence, it could be worthwhile for investors to keep an eye on any news regarding the company in the coming days.

Market Reaction:

On Wednesday, IGEX stock gained 15.38% at $0.075 with more than 55.61 million shares, compared to its average volume of 92.27 million shares. The stock has moved within a range of $0.0064 – 0.0078 after opening the trade at $0.0066. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0080.

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