On Tuesday, the World Poker Stars Inc (OTCMKTS:WPKS) stock was in the middle of a strong rally and managed to end the day with gains of as much as 11% amidst considerable interest.
Market Action
On Tuesday, WPKS stock gained 11.24% to $0.0395 with 50K shares, compared to its average volume of 8.8K shares. The stock moved within a range of $0.0347 – 0.0395 after opening trade at $0.0350.
World Poker Store Inc. signs definitive agreement to merge with Genuine Marketing Group Inc.
In this context, it ought to be noted that it emerged yesterday that on May 7 the company had inked a definitive agreement with regards to a merger with the firm Genuine Marketing Group Inc and submitted the same for approval from shareholders. The news came as a positive trigger for the stock and led to the strong rally that was seen in the World Poker Stars stock on Tuesday.
In this context, it may be a good time to perhaps take a look at Genuine Marketing Group and its business. As the name suggests, it is a marketing company and uses its own system, known as ZPtag for the purpose of creating brand affinity. The possibility of a merger with the company seems to have been seen as a positive by the market. It now remains to be seen if the World Poker Stars shareholders give the necessary approval for the merger or not. It may be a good idea to keep track of these events.
Traders Note
WPKS stock is trading above the 20-Day and 50-Day Moving averages of $0.0255 and $0.0214 respectively. Moreover, the stock is trading in the neutral zone with RSI stands at 59.
 Stock Jumps On Merger With Genuine Marketing Group Inc.){kind=link}