On Thursday, Kaizen Discovery Inc (OTCMKTS:CCNCF) was in the news after it made an announcement with regards to a share consolidation but the market did not react much to the news either way, and the company’s stock continue to trade in a range.
Market Action
On Thursday, CCNCF stock up by 900% to $0.3420 with 2K shares, compared to its average volume of 20K shares. The stock has moved within a range of $0.0342 – 0.0342 after opening trade at $0.0342.
Completes 10 for 1 Share Consolidation
The company noted that the 10 for 1 consolidation of its outstanding and issued shares that had been announced back on November 24 had become effective yesterday. It goes without saying that it was a major announcement from the company and marks a significant milestone for all concerned. In this context, it is also necessary to point out that that the stock is going to continue to trade under the ticker symbol KZD on the TSX Venture Exchange.
Yesterday, the shares started trading on a consolidated basis. On the other hand, it is also necessary to note that those who held shares in Kaizen Discovery before consolidation would need to send in their share certificates to the company’s transfer agent and registrar. At this point in time, it may be a good idea for investors to keep an eye on the Canadian mineral exploration company and see if the stock can make a move in the coming days.
Traders Note
CCNCF stock is trading above the 10-Day and 20-Day Moving averages of $0.0324 and $0.0313. Moreover, the stock is trading is the neutral zone with RSI stands at 53. Key pivot point is $0.0342.
 Stock In Focus After Share Consolidation){kind=link}