Among the many stocks that moved strongly on Tuesday, the Exobox Technologies Corp (OTCMKTS:EXBX) stock was one of the most notable movers. The stock soared by as much as 100% yesterday amidst considerable interest from investors.
However, at the same time, investors also need to reflect on the fact that the gains could have been driven entirely by speculation since there was no news about the company. That being said, investors need to remember that back on May 21 this year the company had announced James Roberts took up the position of the Chief Executive Officer of Exobox.
However, that was not the only announcement made by the company on that day. Sara Gellatly and Mark Kerzner has also been replaced from the board of directors at Exobox. The appointment of a new Chief Executive Officer is almost always a major development for a company and it was a piece of news that must have been noticed by most investors.
That being said, it is unlikely that the appointment of a new CEO led to the rally in the stock yesterday. At this point in time, investors need to keep an eye on the news wires for any news regarding Exobox.
Market Reaction:
On Tuesday, EXBX stock surged 98% at $0.0109 with more than 34.36 million shares, compared to its average volume of 1.15 million shares. The stock had moved within a range of $0.0050 – 0.0150after opening the trade at $0.0050. Over the past 52-week, the stock has been trading within a range of $0.0008 – 0.0150.
 Stock Doubled Without Any News: Will it Sustain?){kind=link}