Basanite Industries (OTCMKTS:BASA) Stock Soars 56% in a Week: Here is Why

Those who are currently looking into stocks that have made considerable gains over the course of the past week could do well to take a closer look at the Basanite Industries LLC (OTCMKTS:BASA).

Yesterday, the stock was in considerable focus among investors and ended up making gains of 34%. That took the Basanite stock’s gains for the past week to as much as 56%. Despite the handsome gains made by the stock in recent days, investors need to consider the fact that there has been no news about the company during this period.

It was back in May 25, that the company announced that it hired the services of Integrous Communications in the capacity of its investor relations advisor. It is a significant step from the company and one that could have long term positive effects on the stock. Integrous is going to be involved in leading the company’s strategic investor relations and financial communication programs.

While that is a major development, it appears unlikely that the stock has been in the middle of this remarkable upward move due to that announcement alone. Hence, it might be a good move if investors kept an eye on the Basanite stock and kept track of any fresh news.

Market Reaction:

On Tuesday, BASA stock soared 34% to $0.3750 with more than 1.5 million shares, compared to  its average volume of 325k shares. The stock has moved within a range of $0.2785 – 0.3800 after opening the trade at $0.28. Over the past 52-week, the stock has been trading within a range of $0.1510 – 1.1200.