MMA Global Inc. (LUSI) Stock Gains Momentum: How to Trade Now?

MMA Global Inc. (OTCMKTS:LUSI) jumped 44%, and in a month, the stock has soared 245%. Recently the company announced James D. “Jim” Phipps as the Chief Executive Officer of the company.

Phipps has been practicing law for over ten years at Jones Day Reavis& Pogue and Wiley LLP, focusing on commercial matters such as leasing, cross-border buying, distribution licensing, and dispute resolution. Notably, Phipps has handled matters before the ICC’s International Court of Arbitration, London Court of Arbitration, and the Court of Arbitration for Sport.

Phipps will succeed Dar McBride, appointed as Chief Operating Officer of VirnetX Holding Corporation’s (NYSE: VHC) subsidiary VirnetX KK. Following the change, MMA Global Chairman Vincent Hasser said they would like to thank McBride for his service to the company and wish him well. In addition, Hasser said that McBride had agreed to continue offering his services to the company and a Board of Directors member. So in the coming months, LUSI is a stock to watch.

Market Reaction:

On Thursday, LUSI stock gained 44.30% at $0.1010 with more than 2.24 million shares, compared to its average volume of 192k shares. The stock had moved within a range of $0.0598 – 0.1450 after opening the trade at $0.0650. Over the past 52-week, the stock has been trading within a range of $0.0070 – 0.1450.