Tauriga Sciences Inc (OTCMKTS:TAUG) Stock Went Up 70% Last Week: But Why?
Tauriga Sciences Inc (OTCMKTS:TAUG) was one of the big movers last week, rallying by more than 70%. The rally came on huge volume, affirming strengthening investor interest. The stock has since bottomed out of a 52-week low, waiting to see if the renewed upward momentum will hold.
Market Stats
On Friday, TAUG stock fell 0.72% at $0.0550 with more than 818k shares, compared to its average volume of 628K shares. The stock has moved within a range of $0.0413 – 0.0550 after opening trading at $0.0482.
Results of Special Meeting of Shareholders Held on November 22, 2021
The blockbuster move comes at the back of Tauriga Sciences announcing the results of a special meeting of shareholders. At the meeting, shareholders approved an amendment to articles of incorporation. Following the approval, the Board of Directors can now move and change its name to Sublingual Technologies Inc.
The shareholders meeting also approved the increase of the total number of authorized shares of common share from 400 million to 750 million. In addition, Seth M. Shaw, Thomas J. Graham, James V. Rosati, and Chris Sferruzzo have been appointment to the Tauriga Sciences board of directors.
According to the Chief Executive Officer, the passage of all the matters marks an important milestone. Tauriga Science now boasts of the much-needed flexibility to move ahead with its corporate initiatives. Top on the list is the development of pharmaceutical efforts. The company is also focused on creating shareholder value in the short and long term.
Traders Corner
TAUG stock is trading above the 20-Day and 50-Day Moving averages of $0.0360 and $0.0.365 respectively. However, the stock is trading below the 200-Day moving average of $0.0690. The stock is up 72% in the past month.
