The IGI stock may have been trading within a range on Wednesday but investors need to keep in mind that there was some important news about the company’s subsidiary company IGI CyberLabs (OTCMKTS:IMCI) at the same time.
Market Action
On Wednesday, IMCI stock ended flat at $0.17 with 67K shares, compared to its average volume of 14.6k shares. The stock moved within a range of $0.1700 – 0.1700 after opening trade at $0.17.
IGI CyberLabs and SOCSoter Integrate Platforms to Streamline Continuous Monitoring Solutions for SMBs
In this context, it may be a good idea for investors to take a closer look at the announcement from IGI CyberLabs yesterday. IGI CyberLabs announced that it had been successful in integrating its Nodeware technology with the SOCSoter cybersecurity platform. By way of this integration the company seeks to provide higher functionality and greater security.
It was a significant development for IGI CyberLabs and it is something that could help the company in attracting more customers in the near term. Hence, it is going to be interesting to see if investors are attracted to the stock of the parent company IGI over the course of the coming days or not.
President of IGI CyberLabs, Stuart Cohen, noted that the integration is going to lead to a powerful product in the cybersecurity market and he noted that it is a market that remains quite underserved at this point in time. Investors could add the IGI stock to their watch lists at this point.
Key Quote
“This integration will bring a powerful combination of cybersecurity solutions to the SMB market, which has been notoriously overlooked and underserved,” said Stuart Cohen, President of IGI CyberLabs. “Our continuous scanning and immediate alerts combined with SOCSoter’s reporting functions and MSP knowledge will better serve organizations’ security needs.”
Traders Note
IMCI stock is trading below the 20-Day and 50-Day Moving averages of $0.1542 and $0.1256. Moreover, the stock is trading is the neutral zone with RSI stands at 55.
 Stock Continues to Trade in a Narrow Range){kind=link}