It is not uncommon for stocks to move considerably in either direction without any news and that is what happened with the Sunset Island Group Inc (OTCMKTS:SIGO) stock this past Friday.
Market Action
On Friday, SIGO stock slid 23.16% at $0.0680 with more than 1.9K shares, compared to its average volume of 4.14K shares. The stock has moved within a range of $0.0680 – 0.0680 after opening trade at $0.0680.
Latest News
There was no news about the company on Friday but the Sunset Island stock suffered from a selloff nonetheless and ended the day with a decline of as much as 23%. Can they stock actually experience a rebound today? It is impossible to figure that out easily since there has been no news at all about Sunset Island for the past couple of years and the last time it was in the news was back in March 2019.
The company primarily works through its subsidiary company VBF Brands and is mainly involved in the cultivation of medical cannabis in the state of California. However, that is not all.
The company is also engaged in providing consulting services to companies which are involved in the cultivation of medical cannabis. Back in March 2019 the company had actually announced that it had got its Provisional Annual License related to cannabis cultivation. In this situation, it might be a good idea for interested investors to possibly keep an eye on the news wires with regards to Sunset Island Group.
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