Oblong Inc (NASDAQ:OBLG) stock Is Showing Positive Momentum: Now What?
Most investors take a keen interest in the action during the premarket trading hours and it is easy to see why. It usually gives a glimpse into the how the market might behave for the rest of the day.
This morning it is the Oblong Inc (NASDAQ:OBLG) stock which has emerged as a premarket trading period gainer, having gone up by as much as 6%. Although the gains made by the stock are eye catching, it could also be entirely speculative considering the fact that there has been no news about the company in recent day.
Investors would have to go back to June 28 if they are looking for any important development with regards to the multi-stream collaboration services company. Oblong announced at the time that it signed definitive agreement with new as well as existing institutional investors with regards to a direct offering.
In the direct offering, the company was going to offer as many as 4,000,000 shares of the Oblong common stock at the rate of $3.10 each. In addition to that, Series A warrants are also going to be offered by way of which a total of 1000000 shares of the common stock can be acquired at $4 each up until January 4, 2022.
Market Reaction:
On Wednesday, OBLG stock jumped 4.73% at $2.88 with more than 650k shares, compared to its average volume of 114k shares. The stock has moved within a range of $2.6200 – 2.9800 after opening the trade at $2.82. Over the past 52-week, the stock has been trading within a range of $1.7800 – 12.2500.
