When a stock makes a bit of a recovery, it may just be the right time to start tracking it and hence, investors could do well to take a look at the Pushfor Investments Inc (OTCMKTS:PUSOF) stock today.
Market Action
On Monday, PUSOF stock gained 4.56% at $0.0780 with more than 307K shares, compared to its average volume of 172K shares. The stock has moved within a range of $0.0712 – 0.0805 after opening the trade at $0.0746.
Closes Acquisition of AFX Networks Inc.
Yesterday, the stock made a recovery and went up by 5% but at the same time it ought to be kept in mind by investors that despite the gains, the Pushfor stock is still down by as much as 9% over the course of the past week. The rally in the stock came about on Monday after the company announced that it had concluded the asset and share acquisition of the company AFX Networks Inc.
AFX Networks is involved with the trucking industry and operates a blockchain powered logistics and shipping platform. Pushfor Investments completed the transaction following the payment of $250,000 in the form of cash and through the purchase of as many as 15,000,000 shares of AFX Networks stock for C$010 each.
The transaction seems to have led to a new wave of optimism about the Pushfor stock and it remains to be seen if the momentum persists over the course of the coming days.
Key Quote
“We recognize that Blockchain technologies are set to revolutionize transactions for the accounting, banking, and financial world,” stated Michael Noonan, President and CEO of Pushfor Investments Inc. “We believe the innovative AFX platform will provide customers superior ease-of-use and seamless integration into the multibillion-dollar transactional shipping and trucking infrastructure.”
Traders Note
PUSOF stock is trading below the 20-Day and 50-Day Moving averages of $0.0890 and $0.1207 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1632. The stock is down 37% over the past month.
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