Life Clips Inc (OTCMKTS:LCLP) stock Makes a Big Move Again: A Good Buy ?
After having gone through a bit of a correction last week, the Life Clips (OTCMKTS:LCLP) stock returned with a bang on Monday and ended the day with gains of as much as 64%.
The popularity of the cryptocurrency space is now more than ever and hence, companies which decide to enter that space in a big way often attract the attention of investors. Back on July 14 Life Clips had announced that it reached an agreement with regards to the acquisition of the multinational blockchain technology company Belfrics Group. The announcement led to a massive rally in the Life Clips stock and after a bit of a hiccup due to profit taking last week, it resumed on Monday.
It is a significant acquisition for the company, considering the fact that Belfrics Group deploys its own proprietary platform for the purpose of operating a range of cryptocurrency exchanges. Robert Grinberg, the Chief Executive Officer of Life Clips spoke about this acquisition last week as well. He stated that considering the sheer popularity of the cryptocurrency sector, the acquisition of Belfrics Group could actually prove to be a valuable move for the company’s shareholders. It remains to be seen if the Life Clips stock can add to its gains today.
Market Reaction:
On Monday, LCLP stock soared 64% at $0.0335 with more than 603.57 million shares, compared to its average volume of 73.81 million shares. The stock has moved within a range of $0.0164 – 0.0407 after opening the trade at $0.0220. Over the past 52-week, the stock has been trading within a range of $0.0002 – 0.0619.
