BioTech Medics Inc (OTCMKTS:BMCS) Stock Suddenly Jumps 33%: But Why?

The possibility of a name change in the near future seems to have come as a source of excitement for investors with regards to the BioTech Medics Inc (OTCMKTS:BMCS) stock.

Market Action

On Monday, BMCS stock soared 33% at $0.0400 with more than 335K shares, compared to its average volume of 84K shares. The stock has moved within a range of $0.0210 – 0.0400 after opening the trade  $0.0381.

Company Update

Yesterday the company announced that it continued to cooperate with FINRA in order to complete the change of its name to BMCS Sumcoin Index Fund Inc. The announcement resulted in fresh action in the BioTech Medics stock and it ended up with gains of as much as 33% for the day. The Chief Executive Officer of the company Anthony K Miller revealed that the company has been actively replying to all the relevant regulatory questions that have been put forward.

However, more importantly, he noted that the number of questions has dwindled in the past two months and there have hardly been any questions at all.

The management of the company is in every day contact with FINRA with regards to the name change and it believes that the name change could come into effect at any moment. Hence, the excitement among investors with regards to the name change is perhaps understandable. Investors could do well to keep an eye on the stock over the course of the coming days.

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